ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Large Drop in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 4,875 shares, a drop of 74.9% from the May 14th total of 19,448 shares. Based on an average trading volume of 52,447 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the company’s stock are short sold.

ProShares Ultra Consumer Staples Trading Up 1.1%

NYSEARCA:UGE traded up $0.21 during midday trading on Friday, hitting $19.81. 20,193 shares of the company were exchanged, compared to its average volume of 65,954. The company has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $18.79. ProShares Ultra Consumer Staples has a fifty-two week low of $15.74 and a fifty-two week high of $22.26. The company has a market capitalization of $13.07 million, a PE ratio of 23.21 and a beta of 1.33.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in ProShares Ultra Consumer Staples by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock worth $147,000 after acquiring an additional 6,100 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Consumer Staples during the 3rd quarter worth $478,000. Finally, IMC Chicago LLC acquired a new stake in ProShares Ultra Consumer Staples during the 1st quarter worth $601,000.

About ProShares Ultra Consumer Staples

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.