ProShares Ultra Utilities (NYSEARCA:UPW) Sees Significant Decrease in Short Interest

ProShares Ultra Utilities (NYSEARCA:UPWGet Free Report) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 6,560 shares, a decrease of 42.5% from the August 15th total of 11,415 shares. Based on an average daily volume of 28,588 shares, the short-interest ratio is presently 0.2 days. Approximately 0.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProShares Ultra Utilities

A hedge fund recently raised its stake in ProShares Ultra Utilities stock. IMC Chicago LLC raised its stake in ProShares Ultra Utilities (NYSEARCA:UPWFree Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,657 shares of the company’s stock after acquiring an additional 3,895 shares during the quarter. IMC Chicago LLC owned approximately 3.47% of ProShares Ultra Utilities worth $834,000 at the end of the most recent quarter.

ProShares Ultra Utilities Stock Up 1.2%

Shares of UPW traded up $0.24 during mid-day trading on Thursday, reaching $19.74. 2,818 shares of the company’s stock were exchanged, compared to its average volume of 21,368. The company has a 50-day simple moving average of $22.25 and a two-hundred day simple moving average of $23.56. ProShares Ultra Utilities has a 52-week low of $19.44 and a 52-week high of $26.80. The company has a market cap of $987,000.00, a price-to-earnings ratio of 21.21 and a beta of 1.12.

ProShares Ultra Utilities Company Profile

(Get Free Report)

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.

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