Short Interest in ProShares Ultra Consumer Staples (NYSEARCA:UGE) Decreases By 71.4%

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 13,149 shares, a drop of 71.4% from the June 30th total of 45,912 shares. Based on an average trading volume of 39,504 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.5% of the company’s shares are sold short.

ProShares Ultra Consumer Staples Stock Performance

ProShares Ultra Consumer Staples stock traded up $0.85 during trading on Tuesday, reaching $20.38. The company had a trading volume of 135,387 shares, compared to its average volume of 63,897. The firm has a market capitalization of $10.80 million, a price-to-earnings ratio of 23.21 and a beta of 1.33. ProShares Ultra Consumer Staples has a 12-month low of $15.74 and a 12-month high of $22.26. The stock’s 50 day moving average price is $19.11 and its two-hundred day moving average price is $19.26.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 in the last quarter. Susquehanna International Group LLP acquired a new position in ProShares Ultra Consumer Staples in the third quarter worth $478,000. Finally, IMC Chicago LLC acquired a new stake in ProShares Ultra Consumer Staples during the first quarter worth about $601,000.

ProShares Ultra Consumer Staples Company Profile

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.