ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Significant Drop in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large decline in short interest in December. As of December 15th, there was short interest totaling 1,711 shares, a decline of 80.9% from the November 30th total of 8,944 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 12,052 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 12,052 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the shares of the stock are short sold.

ProShares Ultra Consumer Staples Stock Up 0.4%

UGE stock traded up $0.06 during midday trading on Friday, reaching $16.96. 3,806 shares of the company’s stock traded hands, compared to its average volume of 28,060. The company has a market cap of $11.36 million, a price-to-earnings ratio of 23.21 and a beta of 1.56. ProShares Ultra Consumer Staples has a 1-year low of $15.74 and a 1-year high of $20.49. The company has a 50-day simple moving average of $16.86 and a two-hundred day simple moving average of $17.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UGE. Susquehanna International Group LLP bought a new stake in ProShares Ultra Consumer Staples in the third quarter valued at $478,000. Envestnet Asset Management Inc. bought a new stake in ProShares Ultra Consumer Staples in the 2nd quarter valued at about $388,000. Finally, EverSource Wealth Advisors LLC raised its stake in ProShares Ultra Consumer Staples by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock worth $147,000 after buying an additional 6,100 shares during the period.

ProShares Ultra Consumer Staples Company Profile

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.