ProShares UltraShort Energy (NYSEARCA:DUG) Sees Significant Increase in Short Interest

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 64,350 shares, a growth of 246.5% from the July 30th total of 18,571 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average trading volume of 92,438 shares, the days-to-cover ratio is presently 0.7 days.

ProShares UltraShort Energy Stock Down 1.0%

NYSEARCA:DUG opened at $15.23 on Friday. The business’s 50-day moving average price is $17.95 and its two-hundred day moving average price is $18.77. ProShares UltraShort Energy has a twelve month low of $14.25 and a twelve month high of $36.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE purchased a new stake in ProShares UltraShort Energy in the fourth quarter valued at approximately $25,000. Jane Street Group LLC grew its stake in ProShares UltraShort Energy by 10.8% in the 4th quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after buying an additional 800 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in ProShares UltraShort Energy by 7,879.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock worth $1,097,000 after buying an additional 28,919 shares in the last quarter.

About ProShares UltraShort Energy

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.