ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Update

ProShares Ultra Utilities (NYSEARCA:UPW) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 11,622 shares, an increase of 74.6% from the April 15th total of 6,656 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 25,219 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On ProShares Ultra Utilities

Institutional investors and hedge funds have recently made changes to their positions in the business. Garton & Associates Financial Advisors LLC purchased a new position in shares of ProShares Ultra Utilities in the fourth quarter worth approximately $26,000. Osaic Holdings Inc. grew its stake in shares of ProShares Ultra Utilities by 278.1% during the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares during the period. Finally, IMC Chicago LLC bought a new position in shares of ProShares Ultra Utilities during the 4th quarter valued at approximately $646,000.

ProShares Ultra Utilities Price Performance

Shares of UPW traded up $0.21 on Tuesday, reaching $22.68. The company’s stock had a trading volume of 3,707 shares, compared to its average volume of 23,846. The stock has a market capitalization of $22.00 million, a P/E ratio of 21.21 and a beta of 1.21. The stock’s 50 day simple moving average is $24.75 and its two-hundred day simple moving average is $23.64. ProShares Ultra Utilities has a 12-month low of $19.12 and a 12-month high of $26.80.

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.