Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Declines By 66.4%

ProShares Ultra Utilities (NYSEARCA:UPW) was the target of a large drop in short interest in March. As of March 31st, there was short interest totaling 13,533 shares, a drop of 66.4% from the March 15th total of 40,251 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 25,239 shares, the days-to-cover ratio is presently 0.5 days.

ProShares Ultra Utilities Price Performance

Shares of UPW traded down $0.27 during trading hours on Friday, hitting $25.94. 11,000 shares of the company were exchanged, compared to its average volume of 25,915. The company has a market capitalization of $25.16 million, a PE ratio of 21.21 and a beta of 1.29. The firm has a fifty day simple moving average of $24.86 and a 200-day simple moving average of $23.61. ProShares Ultra Utilities has a one year low of $17.01 and a one year high of $26.80.

ProShares Ultra Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.0682 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.27 annualized dividend and a dividend yield of 1.1%.

Institutional Investors Weigh In On ProShares Ultra Utilities

Several large investors have recently modified their holdings of the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of ProShares Ultra Utilities during the 4th quarter worth $26,000. Osaic Holdings Inc. boosted 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 buying an additional 20,578 shares during the period. Finally, IMC Chicago LLC purchased a new position in shares of ProShares Ultra Utilities during the fourth quarter valued at $646,000.

About ProShares Ultra Utilities

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.