ProShares Ultra Utilities (NYSEARCA:UPW) Sees Significant Drop in Short Interest

ProShares Ultra Utilities (NYSEARCA:UPW) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 8,024 shares, a decrease of 57.3% from the December 15th total of 18,780 shares. Based on an average trading volume of 11,403 shares, the short-interest ratio is presently 0.7 days. Approximately 1.1% of the company’s stock are sold short. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 11,403 shares, the short-interest ratio is presently 0.7 days.

ProShares Ultra Utilities Stock Performance

Shares of NYSEARCA UPW traded down $0.32 during mid-day trading on Friday, hitting $22.25. 943 shares of the stock traded hands, compared to its average volume of 20,686. ProShares Ultra Utilities has a 52 week low of $15.52 and a 52 week high of $26.20. The company has a market cap of $14.02 million, a price-to-earnings ratio of 21.21 and a beta of 1.20. The stock has a fifty day moving average price of $22.45 and a 200-day moving average price of $22.34.

Institutional Trading of ProShares Ultra Utilities

A hedge fund recently bought a new stake in ProShares Ultra Utilities stock. Freedom Investment Management Inc. purchased a new position in ProShares Ultra Utilities (NYSEARCA:UPW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,821 shares of the company’s stock, valued at approximately $470,000. Freedom Investment Management Inc. owned approximately 2.84% of ProShares Ultra Utilities at the end of the most recent reporting period.

About ProShares Ultra Utilities

ProShares Ultra Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Utilities 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.