ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Drop in Short Interest

ProShares Ultra Financials (NYSEARCA:UYG) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 39,704 shares, a drop of 38.6% from the March 31st total of 64,708 shares. Based on an average daily volume of 15,059 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProShares Ultra Financials

Institutional investors have recently modified their holdings of the stock. Focus Partners Wealth lifted its stake in shares of ProShares Ultra Financials by 20.6% in the 3rd quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after purchasing an additional 2,413 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $709,000. LPL Financial LLC lifted its stake in shares of ProShares Ultra Financials by 33.6% in the 4th quarter. LPL Financial LLC now owns 4,221 shares of the company’s stock valued at $387,000 after purchasing an additional 1,061 shares during the last quarter. Arax Advisory Partners bought a new stake in shares of ProShares Ultra Financials in the 4th quarter valued at approximately $192,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $82,000.

ProShares Ultra Financials Trading Up 1.5%

Shares of UYG stock traded up $1.15 on Monday, reaching $80.30. The company’s stock had a trading volume of 12,852 shares, compared to its average volume of 17,170. The stock’s fifty day simple moving average is $77.14 and its 200-day simple moving average is $87.35. ProShares Ultra Financials has a 1 year low of $68.43 and a 1 year high of $104.32. The company has a market capitalization of $707.45 million, a price-to-earnings ratio of 17.45 and a beta of 1.89.

About ProShares Ultra Financials

ProShares Ultra Financials (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Financials Index. The Dow Jones U.S. Financials Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States domiciled international banks; full line, life, and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies, such as credit card issuers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers including investment banks, merchant banks and online brokers; and publicly traded stock exchanges.