ProShares UltraShort Energy (NYSEARCA:DUG) Sees Significant Drop in Short Interest

ProShares UltraShort Energy (NYSEARCA:DUG) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 35,558 shares, a decrease of 43.6% from the April 15th total of 63,080 shares. Based on an average daily volume of 99,546 shares, the days-to-cover ratio is presently 0.4 days. Approximately 3.5% of the shares of the stock are short sold.

Institutional Trading of ProShares UltraShort Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in shares of ProShares UltraShort Energy in the 4th quarter worth $25,000. Jane Street Group LLC increased its stake in shares of ProShares UltraShort Energy by 10.8% in the 4th quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after acquiring an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of ProShares UltraShort Energy by 7,879.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock worth $1,097,000 after acquiring an additional 28,919 shares during the last quarter.

ProShares UltraShort Energy Stock Down 3.6%

NYSEARCA DUG traded down $0.64 during mid-day trading on Monday, hitting $16.92. The stock had a trading volume of 325,327 shares, compared to its average volume of 108,067. The firm’s 50 day moving average is $18.69 and its 200 day moving average is $25.37. ProShares UltraShort Energy has a twelve month low of $15.65 and a twelve month high of $42.18.

ProShares UltraShort Energy Company Profile

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.