ProShares Ultra Utilities (NYSEARCA:UPW) Sees Significant Drop in Short Interest

ProShares Ultra Utilities (NYSEARCA:UPW) saw a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 6,438 shares, a drop of 37.9% from the February 12th total of 10,366 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 36,527 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 36,527 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Trading of ProShares Ultra Utilities

A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in shares of ProShares Ultra Utilities by 199.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,635 shares of the company’s stock valued at $2,072,000 after acquiring an additional 17,073 shares during the last quarter. IMC Chicago LLC bought a new position in shares of ProShares Ultra Utilities in the 4th quarter worth $646,000. Osaic Holdings Inc. grew its stake in shares of ProShares Ultra Utilities by 278.1% during the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock worth $608,000 after purchasing an additional 20,578 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Utilities during the fourth quarter worth $26,000.

ProShares Ultra Utilities Trading Up 1.6%

Shares of NYSEARCA:UPW traded up $0.41 during trading on Friday, hitting $25.82. 82,712 shares of the company’s stock were exchanged, compared to its average volume of 25,088. The firm has a market cap of $16.27 million, a P/E ratio of 21.21 and a beta of 1.20. The firm has a 50-day moving average price of $23.58 and a two-hundred day moving average price of $23.10. ProShares Ultra Utilities has a 1-year low of $15.52 and a 1-year high of $26.80.

ProShares Ultra Utilities Company Profile

ProShares Ultra Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.