ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 9,935 shares, a decrease of 42.1% from the September 30th total of 17,146 shares. Based on an average daily volume of 22,855 shares, the short-interest ratio is currently 0.4 days. Currently, 1.7% of the shares of the stock are sold short.
ProShares Ultra Utilities Price Performance
Shares of UPW traded up $0.23 during trading hours on Monday, hitting $21.73. 14,866 shares of the company were exchanged, compared to its average volume of 21,204. The company has a market capitalization of $13.04 million, a PE ratio of 21.21 and a beta of 1.11. The firm has a fifty day simple moving average of $20.00 and a 200-day simple moving average of $22.85. ProShares Ultra Utilities has a one year low of $17.57 and a one year high of $26.80.
Institutional Inflows and Outflows
A hedge fund recently raised its position in ProShares Ultra Utilities stock. IMC Chicago LLC increased its position in ProShares Ultra Utilities (NYSEARCA:UPW – Free Report) by 13.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,657 shares of the company’s stock after purchasing an additional 3,895 shares during the period. IMC Chicago LLC owned about 3.47% of ProShares Ultra Utilities worth $834,000 at the end of the most recent reporting period.
ProShares Ultra Utilities Company Profile
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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