ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Down 12.9% in January

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 11,050 shares, a drop of 12.9% from the December 31st total of 12,684 shares. Based on an average daily trading volume, of 40,654 shares, the short-interest ratio is presently 0.3 days. Currently, 1.8% of the company’s stock are sold short. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 40,654 shares, the short-interest ratio is presently 0.3 days.

ProShares Ultra Consumer Staples Stock Up 3.5%

Shares of UGE opened at $20.33 on Wednesday. The company has a market cap of $9.76 million, a price-to-earnings ratio of 23.21 and a beta of 1.56. ProShares Ultra Consumer Staples has a twelve month low of $15.74 and a twelve month high of $20.49. The company has a 50 day moving average of $17.62 and a two-hundred day moving average of $17.62.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new stake in shares of ProShares Ultra Consumer Staples during the second quarter worth $388,000. Susquehanna International Group LLP purchased a new position in ProShares Ultra Consumer Staples in the 3rd quarter worth $478,000. Finally, EverSource Wealth Advisors LLC grew its stake in 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.

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.