ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 15,994 shares, an increase of 134.7% from the May 14th total of 6,815 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 23,054 shares, the short-interest ratio is presently 0.7 days.
Hedge Funds Weigh In On ProShares Ultra Utilities
A number of hedge funds and other institutional investors have recently bought and sold shares of UPW. Garton & Associates Financial Advisors LLC bought a new position in ProShares Ultra Utilities in the fourth quarter valued at approximately $26,000. Osaic Holdings Inc. boosted its stake in ProShares Ultra Utilities by 278.1% in the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares during the last quarter. Finally, IMC Chicago LLC bought a new position in ProShares Ultra Utilities in the fourth quarter valued at approximately $646,000.
ProShares Ultra Utilities Price Performance
Shares of ProShares Ultra Utilities stock opened at $22.91 on Monday. The firm has a market cap of $22.22 million, a P/E ratio of 21.21 and a beta of 1.15. The firm has a 50 day simple moving average of $23.94 and a 200 day simple moving average of $23.54. ProShares Ultra Utilities has a fifty-two week low of $19.21 and a fifty-two week 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.
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