Short Interest in ProShares Ultra Real Estate (NYSEARCA:URE) Decreases By 71.6%

ProShares Ultra Real Estate (NYSEARCA:URE) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 480 shares, a decline of 71.6% from the May 14th total of 1,689 shares. Based on an average daily volume of 2,108 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

ProShares Ultra Real Estate Price Performance

Shares of NYSEARCA URE traded up $0.27 during trading hours on Thursday, hitting $71.49. 1,074 shares of the company’s stock were exchanged, compared to its average volume of 3,681. ProShares Ultra Real Estate has a 1-year low of $57.38 and a 1-year high of $72.09. The stock has a market capitalization of $58.62 million, a price-to-earnings ratio of 35.25 and a beta of 1.93. The company’s 50-day moving average price is $67.82 and its 200-day moving average price is $64.06.

Hedge Funds Weigh In On ProShares Ultra Real Estate

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in ProShares Ultra Real Estate in the 4th quarter valued at approximately $63,000. Cassaday & Co Wealth Management LLC acquired a new position in ProShares Ultra Real Estate in the 1st quarter valued at approximately $128,000. Wells Fargo & Company MN raised its holdings in ProShares Ultra Real Estate by 364,100.0% in the 4th quarter. Wells Fargo & Company MN now owns 3,642 shares of the company’s stock valued at $214,000 after acquiring an additional 3,641 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in ProShares Ultra Real Estate by 6.9% in the 2nd quarter. Corient Private Wealth LLC now owns 23,066 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,496 shares in the last quarter.

ProShares Ultra Real Estate Company Profile

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.