ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Down 56.6% in August

ProShares Ultra Consumer Staples (NYSEARCA:UGE) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 6,089 shares, a decline of 56.6% from the July 30th total of 14,026 shares. Based on an average daily volume of 24,670 shares, the short-interest ratio is presently 0.2 days. Approximately 1.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Several hedge funds have recently modified their holdings of the stock. IMC Chicago LLC bought a new stake in ProShares Ultra Consumer Staples in the 1st quarter valued at $601,000. Susquehanna International Group LLP bought a new position in shares of ProShares Ultra Consumer Staples during the 3rd quarter valued at about $478,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 valued at $147,000 after purchasing an additional 6,100 shares during the last quarter.

ProShares Ultra Consumer Staples Stock Up 1.0%

UGE stock traded up $0.19 during midday trading on Friday, hitting $19.45. The company’s stock had a trading volume of 42,174 shares, compared to its average volume of 59,516. ProShares Ultra Consumer Staples has a 12 month low of $15.74 and a 12 month high of $22.26. The firm has a market capitalization of $12.06 million, a price-to-earnings ratio of 23.21 and a beta of 1.32. The company has a 50 day moving average of $19.35 and a two-hundred day moving average of $19.39.

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.