Short Interest in ProShares Ultra Consumer Staples (NYSEARCA:UGE) Grows By 968.4%

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 118,055 shares, an increase of 968.4% from the January 15th total of 11,050 shares. Approximately 19.7% of the shares of the stock are sold short. Based on an average trading volume of 74,013 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 74,013 shares, the days-to-cover ratio is currently 1.6 days. Approximately 19.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new position in shares of ProShares Ultra Consumer Staples in the third quarter worth $478,000. Envestnet Asset Management Inc. bought a new stake in ProShares Ultra Consumer Staples in the 2nd quarter valued at $388,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of ProShares Ultra Consumer Staples by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after purchasing an additional 6,100 shares during the last quarter.

ProShares Ultra Consumer Staples Price Performance

Shares of NYSEARCA UGE traded up $0.40 during mid-day trading on Wednesday, reaching $21.26. The company’s stock had a trading volume of 15,152 shares, compared to its average volume of 54,639. The firm has a market capitalization of $12.76 million, a PE ratio of 23.21 and a beta of 1.56. The stock has a fifty day moving average of $17.98 and a two-hundred day moving average of $17.70. ProShares Ultra Consumer Staples has a 52 week low of $15.74 and a 52 week high of $21.33.

About ProShares Ultra Consumer Staples

ProShares Ultra Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Consumer Goods 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.