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

ProShares Ultra Utilities (NYSEARCA:UPW) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 11,622 shares, an increase 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. Currently, 1.2% of the shares of the stock are short sold.

ProShares Ultra Utilities Stock Performance

UPW traded down $0.25 during trading on Monday, reaching $22.12. 17,416 shares of the company traded hands, compared to its average volume of 23,994. The company has a market cap of $21.46 million, a P/E ratio of 21.21 and a beta of 1.21. The firm has a fifty day simple moving average of $24.81 and a 200 day simple moving average of $23.65. ProShares Ultra Utilities has a 12-month low of $19.12 and a 12-month high of $26.80.

Institutional Trading of ProShares Ultra Utilities

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

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.