Short Interest in ProShares UltraShort Energy (NYSEARCA:DUG) Drops By 13.7%

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 54,668 shares, a decline of 13.7% from the January 29th total of 63,338 shares. Based on an average daily trading volume, of 42,199 shares, the days-to-cover ratio is currently 1.3 days. Currently, 15.2% of the shares of the stock are sold short. Currently, 15.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,199 shares, the days-to-cover ratio is currently 1.3 days.

ProShares UltraShort Energy Stock Performance

Shares of NYSEARCA:DUG traded up $0.35 on Wednesday, hitting $20.42. The company’s stock had a trading volume of 46,860 shares, compared to its average volume of 50,610. The company has a 50-day simple moving average of $26.08 and a 200 day simple moving average of $31.14. ProShares UltraShort Energy has a 1 year low of $19.09 and a 1 year high of $51.08.

Institutional Investors Weigh In On ProShares UltraShort Energy

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of ProShares UltraShort Energy in the 4th quarter worth $25,000. Jane Street Group LLC increased its stake in ProShares UltraShort Energy by 10.8% in the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock valued at $267,000 after acquiring an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in ProShares UltraShort Energy by 7,879.8% during the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after purchasing an additional 28,919 shares in the last quarter.

About ProShares UltraShort Energy

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.