Short Interest in ProShares Ultra Financials (NYSEARCA:UYG) Decreases By 36.5%

ProShares Ultra Financials (NYSEARCA:UYG) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 31,964 shares, a drop of 36.5% from the July 15th total of 50,315 shares. Based on an average daily trading volume, of 20,897 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in ProShares Ultra Financials by 307.1% in the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after acquiring an additional 9,596 shares during the period. WealthCare Asset Management LLC bought a new stake in shares of ProShares Ultra Financials during the fourth quarter worth $2,740,000. Independent Financial Group LLC bought a new stake in ProShares Ultra Financials during the 1st quarter worth about $397,000. LPL Financial LLC increased its position in ProShares Ultra Financials by 33.6% in the 4th quarter. LPL Financial LLC now owns 4,221 shares of the company’s stock valued at $387,000 after acquiring an additional 1,061 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of ProShares Ultra Financials in the second quarter worth about $215,000.

ProShares Ultra Financials Price Performance

NYSEARCA:UYG opened at $97.27 on Thursday. The stock has a market cap of $842.36 million, a PE ratio of 17.45 and a beta of 1.75. The stock’s 50-day moving average is $92.51 and its two-hundred day moving average is $83.75. ProShares Ultra Financials has a fifty-two week low of $68.43 and a fifty-two week high of $104.32.

ProShares Ultra Financials Company Profile

ProShares Ultra Financials (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Financials Index. The Dow Jones U.S. Financials Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States domiciled international banks; full line, life, and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies, such as credit card issuers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers including investment banks, merchant banks and online brokers; and publicly traded stock exchanges.