ProShares Ultra Consumer Staples (NYSEARCA:UGE) Shares Shorted: Short Interest Up 2,493.2% in October

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 37,757 shares, a growth of 2,493.2% from the October 15th total of 1,456 shares. Based on an average trading volume of 58,914 shares, the days-to-cover ratio is presently 0.6 days. Currently, 7.0% of the company’s stock are sold short.

ProShares Ultra Consumer Staples Stock Performance

NYSEARCA:UGE traded down $0.17 during midday trading on Wednesday, reaching $21.69. 19,037 shares of the stock traded hands, compared to its average volume of 57,445. The business has a 50-day moving average of $19.34 and a two-hundred day moving average of $19.39. ProShares Ultra Consumer Staples has a 12-month low of $16.14 and a 12-month high of $22.99. The stock has a market capitalization of $11.71 million, a PE ratio of 23.21 and a beta of 1.21.

Institutional Trading of ProShares Ultra Consumer Staples

A hedge fund recently raised its position in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. grew its holdings in ProShares Ultra Consumer Staples (NYSEARCA:UGE) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,102 shares of the company’s stock after buying an additional 1,790 shares during the period. Envestnet Asset Management Inc. owned 4.60% of ProShares Ultra Consumer Staples worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

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.