ProShares Ultra Energy (NYSEARCA:DIG) Sees Significant Decline in Short Interest

ProShares Ultra Energy (NYSEARCA:DIG) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totaling 39,878 shares, a drop of 35.1% from the March 31st total of 61,473 shares. Based on an average trading volume of 120,674 shares, the days-to-cover ratio is presently 0.3 days. Currently, 3.0% of the company’s stock are short sold.

ProShares Ultra Energy Stock Performance

NYSEARCA DIG traded up $1.22 during trading on Thursday, reaching $62.59. The company’s stock had a trading volume of 52,658 shares, compared to its average volume of 81,368. The firm has a market cap of $84.50 million, a price-to-earnings ratio of 14.85 and a beta of 0.99. ProShares Ultra Energy has a twelve month low of $29.74 and a twelve month high of $71.52. The business’s fifty day moving average price is $59.00 and its 200-day moving average price is $46.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its stake in shares of ProShares Ultra Energy by 411.8% during the second quarter. Jane Street Group LLC now owns 30,709 shares of the exchange traded fund’s stock worth $1,022,000 after acquiring an additional 24,709 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of ProShares Ultra Energy by 789.2% during the second quarter. Tower Research Capital LLC TRC now owns 26,205 shares of the exchange traded fund’s stock worth $872,000 after acquiring an additional 23,258 shares during the period. Osaic Holdings Inc. increased its stake in shares of ProShares Ultra Energy by 7.3% during the fourth quarter. Osaic Holdings Inc. now owns 18,529 shares of the exchange traded fund’s stock worth $669,000 after acquiring an additional 1,268 shares during the period. PMV Capital Advisers LLC increased its stake in shares of ProShares Ultra Energy by 53.7% during the fourth quarter. PMV Capital Advisers LLC now owns 12,924 shares of the exchange traded fund’s stock worth $466,000 after acquiring an additional 4,518 shares during the period. Finally, Simplex Trading LLC acquired a new position in shares of ProShares Ultra Energy during the fourth quarter worth about $52,000.

ProShares Ultra Energy Company Profile

ProShares Ultra Oil & Gas (the fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Oil & Gas 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.