ProShares Ultra Real Estate (NYSEARCA:URE) Sees Significant Decrease in Short Interest

ProShares Ultra Real Estate (NYSEARCA:URE) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 858 shares, a decline of 60.7% from the July 30th total of 2,183 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 5,486 shares, the short-interest ratio is currently 0.2 days.

ProShares Ultra Real Estate Stock Performance

URE traded down $0.57 during midday trading on Friday, reaching $69.36. 4,036 shares of the company were exchanged, compared to its average volume of 3,772. The company’s fifty day moving average price is $71.10 and its 200 day moving average price is $68.28. The company has a market cap of $58.26 million, a price-to-earnings ratio of 35.25 and a beta of 1.90. ProShares Ultra Real Estate has a one year low of $57.38 and a one year high of $75.65.

Institutional Investors Weigh In On ProShares Ultra Real Estate

A number of institutional investors and hedge funds have recently bought and sold shares of URE. Cassaday & Co Wealth Management LLC bought a new stake in shares of ProShares Ultra Real Estate in the 1st quarter worth $128,000. Corient Private Wealth LLC boosted its holdings in ProShares Ultra Real Estate by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 23,445 shares of the company’s stock worth $1,380,000 after purchasing an additional 153 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in ProShares Ultra Real Estate during the fourth quarter worth about $63,000. Finally, Wells Fargo & Company MN boosted its holdings in ProShares Ultra Real Estate by 364,100.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,642 shares of the company’s stock worth $214,000 after purchasing an additional 3,641 shares during the last quarter.

About ProShares Ultra Real Estate

ProShares Ultra Real Estate (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments, and real estate investment trusts (REITs) that invest in apartments, office and retail properties.