ProShares Ultra Consumer Staples (NYSEARCA:UGE – Get Free Report) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 4,875 shares, a decline of 74.9% from the May 14th total of 19,448 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,447 shares, the short-interest ratio is presently 0.1 days.
Hedge Funds Weigh In On ProShares Ultra Consumer Staples
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC bought a new position in shares of ProShares Ultra Consumer Staples in the 1st quarter valued at about $601,000. Susquehanna International Group LLP acquired a new position in ProShares Ultra Consumer Staples in the third quarter valued at approximately $478,000. Finally, EverSource Wealth Advisors LLC lifted 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 buying an additional 6,100 shares during the period.
ProShares Ultra Consumer Staples Stock Up 1.1%
NYSEARCA:UGE traded up $0.21 on Friday, reaching $19.81. The stock had a trading volume of 20,193 shares, compared to its average volume of 65,954. The company has a market capitalization of $13.07 million, a P/E ratio of 23.21 and a beta of 1.33. ProShares Ultra Consumer Staples has a 1-year low of $15.74 and a 1-year high of $22.26. The stock has a fifty day moving average price of $18.90 and a 200-day moving average price of $18.79.
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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