Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Increases By 70.2%

ProShares Ultra Utilities (NYSEARCA:UPW) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 14,652 shares, a growth of 70.2% from the June 30th total of 8,609 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,656 shares, the short-interest ratio is presently 1.4 days.

ProShares Ultra Utilities Price Performance

NYSEARCA UPW opened at $23.06 on Friday. The company’s 50 day simple moving average is $23.53 and its 200 day simple moving average is $23.96. The firm has a market capitalization of $17.53 million, a PE ratio of 21.21 and a beta of 1.15. ProShares Ultra Utilities has a 12 month low of $20.25 and a 12 month high of $26.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new position in shares of ProShares Ultra Utilities in the 4th quarter worth $26,000. Osaic Holdings Inc. lifted its position in shares of ProShares Ultra Utilities by 278.1% in the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock worth $608,000 after purchasing an additional 20,578 shares in the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Utilities during the 4th quarter valued at $646,000.

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.