ProShares Ultra Consumer Staples (NYSEARCA:UGE – Get Free Report) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 6,089 shares, a drop of 56.6% from the July 30th total of 14,026 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 24,670 shares, the days-to-cover ratio is currently 0.2 days.
Hedge Funds Weigh In On ProShares Ultra Consumer Staples
Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in ProShares Ultra Consumer Staples by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after purchasing an additional 6,100 shares during the period. Susquehanna International Group LLP acquired a new position in shares of ProShares Ultra Consumer Staples during the 3rd quarter worth approximately $478,000. Finally, IMC Chicago LLC purchased a new position in shares of ProShares Ultra Consumer Staples during the 1st quarter valued at approximately $601,000.
ProShares Ultra Consumer Staples Stock Performance
NYSEARCA UGE traded up $0.19 during mid-day trading on Friday, reaching $19.45. 42,174 shares of the stock were exchanged, compared to its average volume of 59,516. The company has a market capitalization of $12.06 million, a P/E ratio of 23.21 and a beta of 1.32. The business’s 50 day moving average is $19.35 and its 200-day moving average is $19.38. ProShares Ultra Consumer Staples has a 1 year low of $15.74 and a 1 year high of $22.26.
About ProShares Ultra Consumer Staples
ProShares Ultra Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Consumer Goods 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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