Short Interest in ProShares UltraShort Energy (NYSEARCA:DUG) Increases By 246.5%

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 64,350 shares, a growth of 246.5% from the July 30th total of 18,571 shares. Approximately 5.3% of the company’s stock are short sold. Based on an average trading volume of 92,438 shares, the days-to-cover ratio is currently 0.7 days.

ProShares UltraShort Energy Trading Down 1.2%

Shares of NYSEARCA:DUG opened at $15.33 on Thursday. The business’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $18.85. ProShares UltraShort Energy has a 12-month low of $14.25 and a 12-month high of $36.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DUG. Bank of America Corp DE acquired a new position in shares of ProShares UltraShort Energy during the fourth quarter valued at about $25,000. Jane Street Group LLC raised its stake in ProShares UltraShort Energy by 10.8% in the 4th quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after acquiring an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in ProShares UltraShort Energy by 7,879.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock worth $1,097,000 after acquiring an additional 28,919 shares during the period.

ProShares UltraShort Energy Company Profile

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.