ProShares Ultra Utilities (NYSEARCA:UPW) Stock Short Interest Falls 69.9%

ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 2,994 shares, a drop of 69.9% from the October 15th total of 9,935 shares. Based on an average daily volume of 14,327 shares, the short-interest ratio is presently 0.2 days. Approximately 0.5% of the company’s shares are sold short.

ProShares Ultra Utilities Stock Up 0.6%

UPW traded up $0.13 during midday trading on Friday, hitting $21.93. 3,052 shares of the company traded hands, compared to its average volume of 20,797. ProShares Ultra Utilities has a 52 week low of $17.57 and a 52 week high of $26.80. The company’s 50-day moving average is $20.08 and its 200 day moving average is $22.83. The firm has a market capitalization of $12.94 million, a PE ratio of 21.21 and a beta of 1.06.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in ProShares Ultra Utilities stock. IMC Chicago LLC increased its position in ProShares Ultra Utilities (NYSEARCA:UPW – Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,657 shares of the company’s stock after acquiring an additional 3,895 shares during the quarter. IMC Chicago LLC owned about 3.47% of ProShares Ultra Utilities worth $834,000 at the end of the most recent quarter.

About ProShares Ultra Utilities

(Get Free Report)

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.

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