Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Expands By 74.6%

ProShares Ultra Utilities (NYSEARCA:UPW) saw a large growth in short interest in April. As of April 30th, there was short interest totaling 11,622 shares, a growth of 74.6% from the April 15th total of 6,656 shares. Based on an average daily trading volume, of 25,219 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.2% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra Utilities

A number of institutional investors and hedge funds have recently modified their holdings of the company. Garton & Associates Financial Advisors LLC purchased a new position in shares of ProShares Ultra Utilities in the 4th quarter worth $26,000. IMC Chicago LLC boosted its stake in shares of ProShares Ultra Utilities by 13.1% in the 1st quarter. IMC Chicago LLC now owns 33,657 shares of the company’s stock worth $834,000 after buying an additional 3,895 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of ProShares Ultra Utilities by 278.1% during the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after purchasing an additional 20,578 shares during the last quarter.

ProShares Ultra Utilities Price Performance

NYSEARCA UPW traded down $0.25 during trading hours on Monday, hitting $22.12. The company’s stock had a trading volume of 17,416 shares, compared to its average volume of 23,994. ProShares Ultra Utilities has a 12 month low of $19.12 and a 12 month high of $26.80. The company’s 50 day simple moving average is $24.81 and its two-hundred day simple moving average is $23.65. The company has a market cap of $21.46 million, a P/E ratio of 21.21 and a beta of 1.21.

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.