ProShares UltraShort Energy (NYSEARCA:DUG – Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 74,354 shares, a growth of 123.1% from the March 15th total of 33,325 shares. Based on an average daily volume of 165,692 shares, the short-interest ratio is currently 0.4 days. Approximately 7.7% of the company’s shares are short sold.
Institutional Trading of ProShares UltraShort Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DUG. Jane Street Group LLC raised its holdings 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 purchasing an additional 800 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ProShares UltraShort Energy by 7,879.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after acquiring an additional 28,919 shares during the period. Finally, Bank of America Corp DE purchased a new stake in ProShares UltraShort Energy during the 4th quarter worth $25,000.
ProShares UltraShort Energy Price Performance
NYSEARCA DUG traded up $0.95 on Tuesday, hitting $20.13. 83,449 shares of the company traded hands, compared to its average volume of 91,879. The business’s 50 day moving average price is $19.84 and its 200-day moving average price is $27.85. ProShares UltraShort Energy has a 52-week low of $15.65 and a 52-week high of $44.59.
ProShares UltraShort Energy Cuts Dividend
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.
Further Reading
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