Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Expands By 37.3%

ProShares Ultra Utilities (NYSEARCA:UPW) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 11,027 shares, an increase of 37.3% from the January 15th total of 8,030 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 8,797 shares, the short-interest ratio is currently 1.3 days. Based on an average trading volume of 8,797 shares, the short-interest ratio is currently 1.3 days. Approximately 1.8% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra Utilities

Several large investors have recently added to or reduced their stakes in UPW. Freedom Investment Management Inc. bought a new stake in shares of ProShares Ultra Utilities in the 2nd quarter worth approximately $470,000. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Utilities in the fourth quarter valued at $646,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of ProShares Ultra Utilities by 199.4% in the second quarter. Envestnet Asset Management Inc. now owns 25,635 shares of the company’s stock valued at $2,072,000 after purchasing an additional 17,073 shares in the last quarter.

ProShares Ultra Utilities Stock Up 5.5%

ProShares Ultra Utilities stock traded up $1.34 during mid-day trading on Friday, reaching $25.50. The company had a trading volume of 29,792 shares, compared to its average volume of 20,113. The firm has a market cap of $16.07 million, a price-to-earnings ratio of 21.21 and a beta of 1.20. The company has a 50 day moving average of $22.01 and a 200-day moving average of $22.60. ProShares Ultra Utilities has a 52 week low of $15.52 and a 52 week high of $26.20.

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.