ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Large Decrease in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 13,149 shares, a drop of 71.4% from the June 30th total of 45,912 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average trading volume of 39,504 shares, the short-interest ratio is currently 0.3 days.

ProShares Ultra Consumer Staples Stock Up 2.2%

NYSEARCA UGE traded up $0.40 during trading hours on Friday, hitting $18.97. 1,454 shares of the company were exchanged, compared to its average volume of 63,790. ProShares Ultra Consumer Staples has a 52 week low of $15.74 and a 52 week high of $22.26. The stock has a 50-day moving average price of $19.12 and a 200 day moving average price of $19.23. The stock has a market cap of $10.05 million, a PE ratio of 23.21 and a beta of 1.33.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Several large investors have recently modified their holdings of UGE. EverSource Wealth Advisors LLC increased its position in shares of ProShares Ultra Consumer Staples by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after purchasing an additional 6,100 shares during the last quarter. Susquehanna International Group LLP bought a new stake in ProShares Ultra Consumer Staples in the third quarter worth $478,000. Finally, IMC Chicago LLC bought a new stake in ProShares Ultra Consumer Staples in the first quarter worth $601,000.

About ProShares Ultra Consumer Staples

ProShares Ultra Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Consumer Goods 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.