ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 40,251 shares, a growth of 525.2% from the February 26th total of 6,438 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 29,844 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 29,844 shares, the days-to-cover ratio is presently 1.3 days. Approximately 6.4% of the company’s stock are sold short.
Hedge Funds Weigh In On ProShares Ultra Utilities
Large investors have recently bought and sold shares of the stock. Garton & Associates Financial Advisors LLC purchased a new position in shares of ProShares Ultra Utilities during the fourth quarter worth about $26,000. Osaic Holdings Inc. lifted its holdings in shares of 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 purchasing an additional 20,578 shares during the last quarter. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Utilities in the 4th quarter valued at about $646,000.
ProShares Ultra Utilities Price Performance
Shares of ProShares Ultra Utilities stock traded up $0.34 during trading hours on Tuesday, hitting $24.08. The company had a trading volume of 16,324 shares, compared to its average volume of 24,420. The company’s 50-day moving average is $24.07 and its two-hundred day moving average is $23.29. The company has a market cap of $15.17 million, a P/E ratio of 21.21 and a beta of 1.20. ProShares Ultra Utilities has a twelve month low of $15.52 and a twelve month high of $26.80.
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.
Further Reading
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