ProShares Ultra Energy (NYSEARCA:DIG) Sees Large Decline in Short Interest

ProShares Ultra Energy (NYSEARCA:DIG) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 45,138 shares, a decrease of 29.3% from the February 26th total of 63,858 shares. Based on an average trading volume of 123,121 shares, the short-interest ratio is currently 0.4 days. Currently, 2.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC bought a new position in ProShares Ultra Energy in the 2nd quarter valued at about $33,000. Simplex Trading LLC bought a new stake in shares of ProShares Ultra Energy during the fourth quarter worth approximately $52,000. PMV Capital Advisers LLC grew its position in shares of ProShares Ultra Energy by 53.7% in the fourth quarter. PMV Capital Advisers LLC now owns 12,924 shares of the exchange traded fund’s stock valued at $466,000 after purchasing an additional 4,518 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of ProShares Ultra Energy by 7.3% during the fourth quarter. Osaic Holdings Inc. now owns 18,529 shares of the exchange traded fund’s stock worth $669,000 after purchasing an additional 1,268 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of ProShares Ultra Energy by 789.2% during the second quarter. Tower Research Capital LLC TRC now owns 26,205 shares of the exchange traded fund’s stock worth $872,000 after purchasing an additional 23,258 shares during the period.

ProShares Ultra Energy Price Performance

DIG stock traded up $2.26 during midday trading on Friday, reaching $69.51. 124,188 shares of the company were exchanged, compared to its average volume of 76,666. ProShares Ultra Energy has a one year low of $26.50 and a one year high of $70.00. The firm has a market capitalization of $128.59 million, a price-to-earnings ratio of 14.85 and a beta of 1.53. The business has a 50-day moving average price of $53.56 and a two-hundred day moving average price of $42.38.

ProShares Ultra Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be paid a dividend of $0.2055 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, March 25th.

About ProShares Ultra Energy

ProShares Ultra Oil & Gas (the fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Oil & Gas 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.