ProShares Ultra Consumer Discretionary (NYSEARCA:UCC) Sees Significant Drop in Short Interest

ProShares Ultra Consumer Discretionary (NYSEARCA:UCC) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 573 shares, a decline of 65.1% from the May 31st total of 1,640 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 4,675 shares, the days-to-cover ratio is currently 0.1 days.

ProShares Ultra Consumer Discretionary Stock Performance

Shares of UCC stock traded up $0.88 on Friday, hitting $45.66. 3,572 shares of the company’s stock traded hands, compared to its average volume of 4,065. The stock has a market capitalization of $12.78 million, a price-to-earnings ratio of 29.58 and a beta of 2.22. The company’s fifty day simple moving average is $48.83 and its 200 day simple moving average is $49.46. ProShares Ultra Consumer Discretionary has a one year low of $39.96 and a one year high of $56.96.

Hedge Funds Weigh In On ProShares Ultra Consumer Discretionary

Institutional investors and hedge funds have recently bought and sold shares of the stock. WealthCare Asset Management LLC purchased a new position in ProShares Ultra Consumer Discretionary in the 4th quarter worth approximately $2,545,000. Osaic Holdings Inc. purchased a new stake in shares of ProShares Ultra Consumer Discretionary during the second quarter valued at approximately $631,000. Citadel Advisors LLC bought a new position in shares of ProShares Ultra Consumer Discretionary in the third quarter worth approximately $209,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of ProShares Ultra Consumer Discretionary in the third quarter worth approximately $87,000. Finally, IMC Chicago LLC purchased a new position in shares of ProShares Ultra Consumer Discretionary in the first quarter worth $1,472,000.

About ProShares Ultra Consumer Discretionary

ProShares Ultra Consumer Services (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones United States Consumer Goods Index. The Dow Jones United States Consumer Goods Index measures the performance of consumer spending in the goods industry of the United States equity market. Component companies include automobiles and auto parts and tires, brewers and distillers, farming and fishing, durable and non-durable household product manufacturers, cosmetic companies, food and tobacco products, clothing accessories and footwear.