ProShares Ultra Consumer Staples (NYSEARCA:UGE) Stock Short Interest Declines 41.3%

ProShares Ultra Consumer Staples (NYSEARCA:UGE) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 2,257 shares, a decline of 41.3% from the August 31st total of 3,845 shares. Based on an average trading volume of 57,222 shares, the short-interest ratio is presently 0.0 days. Approximately 0.5% of the shares of the stock are short sold.

ProShares Ultra Consumer Staples Price Performance

NYSEARCA UGE traded down $0.21 during trading hours on Thursday, reaching $17.17. 11,306 shares of the stock traded hands, compared to its average volume of 56,092. The stock has a 50 day simple moving average of $19.07 and a two-hundred day simple moving average of $18.97. ProShares Ultra Consumer Staples has a 1 year low of $15.74 and a 1 year high of $22.26. The company has a market cap of $8.24 million, a price-to-earnings ratio of 23.21 and a beta of 1.32.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

An institutional investor recently raised its position in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. boosted its position in ProShares Ultra Consumer Staples (NYSEARCA:UGE) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,102 shares of the company’s stock after buying an additional 1,790 shares during the quarter. Envestnet Asset Management Inc. owned approximately 4.60% of ProShares Ultra Consumer Staples worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

ProShares Ultra Consumer Staples Company Profile

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.