ProShares UltraShort Energy (NYSEARCA:DUG – Get Free Report) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 17,997 shares, a decline of 67.1% from the February 12th total of 54,668 shares. Approximately 5.0% of the company’s stock are short sold. Based on an average daily volume of 37,617 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 37,617 shares, the days-to-cover ratio is currently 0.5 days. Approximately 5.0% of the company’s stock are short sold.
Hedge Funds Weigh In On ProShares UltraShort Energy
Several large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 28,919 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of ProShares UltraShort Energy by 10.8% in the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock valued at $267,000 after purchasing an additional 800 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of ProShares UltraShort Energy during the fourth quarter valued at approximately $25,000.
ProShares UltraShort Energy Stock Up 2.7%
ProShares UltraShort Energy stock opened at $20.76 on Wednesday. The firm’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $30.57. ProShares UltraShort Energy has a 1-year low of $19.09 and a 1-year high of $51.08.
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.
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