ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Update

ProShares Ultra Utilities (NYSEARCA:UPW) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 11,027 shares, a growth of 37.3% from the January 15th total of 8,030 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 8,797 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 8,797 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Freedom Investment Management Inc. acquired a new stake in shares of ProShares Ultra Utilities in the second quarter valued at about $470,000. Envestnet Asset Management Inc. grew its holdings in ProShares Ultra Utilities by 199.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 25,635 shares of the company’s stock valued at $2,072,000 after buying an additional 17,073 shares during the last quarter. Finally, IMC Chicago LLC bought a new position in ProShares Ultra Utilities in the 4th quarter worth approximately $646,000.

ProShares Ultra Utilities Stock Up 5.5%

Shares of NYSEARCA:UPW traded up $1.34 during trading on Friday, reaching $25.50. The stock had a trading volume of 29,792 shares, compared to its average volume of 20,113. ProShares Ultra Utilities has a 52 week low of $15.52 and a 52 week high of $26.20. The firm has a market capitalization of $16.07 million, a price-to-earnings ratio of 21.21 and a beta of 1.20. The stock has a fifty day simple moving average of $22.01 and a two-hundred day simple moving average of $22.60.

About ProShares Ultra Utilities

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.