ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 15,994 shares, a growth of 134.7% from the May 14th total of 6,815 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 23,054 shares, the short-interest ratio is currently 0.7 days.
ProShares Ultra Utilities Stock Up 1.6%
Shares of ProShares Ultra Utilities stock traded up $0.37 during trading hours on Friday, hitting $22.91. 2,612 shares of the company’s stock traded hands, compared to its average volume of 23,111. The stock has a 50 day simple moving average of $23.94 and a 200-day simple moving average of $23.54. The company has a market cap of $22.22 million, a PE ratio of 21.21 and a beta of 1.15. ProShares Ultra Utilities has a twelve month low of $19.21 and a twelve month high of $26.80.
Institutional Trading of ProShares Ultra Utilities
Large investors have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Utilities during the fourth quarter valued at about $26,000. Osaic Holdings Inc. grew its stake in shares of ProShares Ultra Utilities by 278.1% during the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares in the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Utilities during the fourth quarter valued at about $646,000.
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.
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