ProShares UltraShort Energy (NYSEARCA:DUG) Sees Significant Growth in Short Interest

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 64,350 shares, a growth of 246.5% from the July 30th total of 18,571 shares. Based on an average daily volume of 92,438 shares, the days-to-cover ratio is presently 0.7 days. Approximately 5.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DUG. Bank of America Corp DE acquired a new stake in ProShares UltraShort Energy in the 4th quarter valued at $25,000. Jane Street Group LLC boosted its stake in ProShares UltraShort Energy by 10.8% during the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after buying an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in ProShares UltraShort Energy by 7,879.8% during the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock worth $1,097,000 after purchasing an additional 28,919 shares during the last quarter.

ProShares UltraShort Energy Trading Down 0.4%

Shares of ProShares UltraShort Energy stock traded down $0.06 on Friday, reaching $15.32. 170,159 shares of the stock were exchanged, compared to its average volume of 108,355. The business has a 50 day moving average price of $18.07 and a two-hundred day moving average price of $18.80. ProShares UltraShort Energy has a twelve month low of $14.25 and a twelve month high of $36.99.

About ProShares UltraShort Energy

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.