ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Up 968.4% in January

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 118,055 shares, a growth of 968.4% from the January 15th total of 11,050 shares. Currently, 19.7% of the shares of the company are short sold. Based on an average daily volume of 74,013 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 74,013 shares, the short-interest ratio is currently 1.6 days. Currently, 19.7% of the shares of the company are short sold.

ProShares Ultra Consumer Staples Trading Down 0.7%

NYSEARCA:UGE traded down $0.14 during mid-day trading on Tuesday, hitting $20.86. 42,160 shares of the company’s stock traded hands, compared to its average volume of 56,339. The firm has a market capitalization of $12.52 million, a price-to-earnings ratio of 23.21 and a beta of 1.56. The firm has a 50 day moving average of $17.98 and a two-hundred day moving average of $17.70. ProShares Ultra Consumer Staples has a 12 month low of $15.74 and a 12 month high of $21.33.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Consumer Staples in the 3rd quarter worth $478,000. Envestnet Asset Management Inc. bought a new stake in shares of ProShares Ultra Consumer Staples in the second quarter valued at about $388,000. Finally, EverSource Wealth Advisors LLC grew its position in ProShares Ultra Consumer Staples by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock worth $147,000 after buying an additional 6,100 shares in 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.