ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Large Decrease in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 23,145 shares, a decline of 66.3% from the February 26th total of 68,724 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily trading volume, of 89,070 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 89,070 shares, the short-interest ratio is presently 0.3 days. Currently, 3.9% of the company’s stock are sold short.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

A number of institutional investors have recently added to or reduced their stakes in UGE. Envestnet Asset Management Inc. purchased a new position in ProShares Ultra Consumer Staples in the second quarter valued at about $388,000. EverSource Wealth Advisors LLC raised its holdings in ProShares Ultra Consumer Staples by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock worth $147,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of ProShares Ultra Consumer Staples during the third quarter valued at about $478,000.

ProShares Ultra Consumer Staples Stock Performance

ProShares Ultra Consumer Staples stock traded down $0.23 during mid-day trading on Wednesday, reaching $17.88. 1,454 shares of the company were exchanged, compared to its average volume of 66,732. The firm has a market cap of $10.73 million, a P/E ratio of 23.21 and a beta of 1.56. The business has a fifty day moving average of $20.04 and a 200 day moving average of $18.10. ProShares Ultra Consumer Staples has a 12-month low of $15.74 and a 12-month high of $22.26.

ProShares Ultra Consumer Staples Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a $0.0581 dividend. This represents a $0.23 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 25th.

About ProShares Ultra Consumer Staples

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.