ProShares UltraShort Energy (NYSEARCA:DUG – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 268,199 shares, a growth of 316.8% from the August 15th total of 64,350 shares. Based on an average trading volume of 194,056 shares, the days-to-cover ratio is presently 1.4 days. Currently, 22.2% of the company’s shares are sold short.
Institutional Investors Weigh In On ProShares UltraShort Energy
Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in ProShares UltraShort Energy by 7,879.8% in the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock worth $1,097,000 after acquiring an additional 28,919 shares during the period. Jane Street Group LLC lifted its position in shares of ProShares UltraShort Energy by 10.8% in the 4th quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after purchasing an additional 800 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of ProShares UltraShort Energy during the fourth quarter valued at about $25,000.
ProShares UltraShort Energy Trading Down 0.4%
ProShares UltraShort Energy stock opened at $14.11 on Friday. The firm has a 50-day moving average of $16.61 and a 200-day moving average of $18.25. ProShares UltraShort Energy has a 1-year low of $13.68 and a 1-year 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.
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