Short Interest in ProShares Ultra Consumer Discretionary (NYSEARCA:UCC) Expands By 509.7%

ProShares Ultra Consumer Discretionary (NYSEARCA:UCC) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,640 shares, a growth of 509.7% from the May 14th total of 269 shares. Based on an average daily trading volume, of 3,412 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s shares are short sold.

Hedge Funds Weigh In On ProShares Ultra Consumer Discretionary

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in ProShares Ultra Consumer Discretionary in the 3rd quarter valued at approximately $87,000. Citadel Advisors LLC acquired a new stake in ProShares Ultra Consumer Discretionary in the 3rd quarter valued at approximately $209,000. Osaic Holdings Inc. acquired a new stake in ProShares Ultra Consumer Discretionary in the 2nd quarter valued at approximately $631,000. IMC Chicago LLC acquired a new stake in ProShares Ultra Consumer Discretionary in the 1st quarter valued at approximately $1,472,000. Finally, WealthCare Asset Management LLC acquired a new stake in ProShares Ultra Consumer Discretionary in the 4th quarter valued at approximately $2,545,000.

ProShares Ultra Consumer Discretionary Stock Performance

NYSEARCA:UCC traded up $2.18 during mid-day trading on Thursday, hitting $47.32. The company had a trading volume of 1,168 shares, compared to its average volume of 4,198. ProShares Ultra Consumer Discretionary has a fifty-two week low of $39.96 and a fifty-two week high of $56.96. The business’s fifty day moving average is $48.25 and its two-hundred day moving average is $49.77. The firm has a market cap of $13.25 million, a P/E ratio of 29.58 and a beta of 2.22.

About ProShares Ultra Consumer Discretionary

ProShares Ultra Consumer Services (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones United States Consumer Goods Index. The Dow Jones United States Consumer Goods Index measures the performance of consumer spending in the goods industry of the United States equity market. Component companies include automobiles and auto parts and tires, brewers and distillers, farming and fishing, durable and non-durable household product manufacturers, cosmetic companies, food and tobacco products, clothing accessories and footwear.