Short Interest in ProShares UltraShort Energy (NYSEARCA:DUG) Expands By 316.8%

ProShares UltraShort Energy (NYSEARCA:DUG) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 268,199 shares, a growth of 316.8% from the August 15th total of 64,350 shares. Approximately 22.2% of the company’s shares are sold short. Based on an average daily trading volume, of 194,056 shares, the days-to-cover ratio is presently 1.4 days.

ProShares UltraShort Energy Price Performance

DUG traded down $0.05 during mid-day trading on Friday, hitting $14.11. 155,749 shares of the stock were exchanged, compared to its average volume of 110,438. The firm’s fifty day moving average is $16.61 and its two-hundred day moving average is $18.25. ProShares UltraShort Energy has a 1-year low of $13.68 and a 1-year high of $36.99.

Institutional Trading of ProShares UltraShort Energy

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of ProShares UltraShort Energy by 7,879.8% in the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after purchasing an additional 28,919 shares in the last quarter. Jane Street Group LLC increased its stake in ProShares UltraShort Energy by 10.8% during 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 during the period. Finally, Bank of America Corp DE acquired a new stake in ProShares UltraShort Energy during the 4th quarter worth approximately $25,000.

ProShares UltraShort Energy Company Profile

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.