Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Increases By 70.2%

ProShares Ultra Utilities (NYSEARCA:UPW) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 14,652 shares, a growth of 70.2% from the June 30th total of 8,609 shares. Based on an average trading volume of 10,656 shares, the short-interest ratio is currently 1.4 days. Approximately 1.9% of the shares of the company are sold short.

Institutional Trading of ProShares Ultra Utilities

Several institutional investors and hedge funds have recently modified their holdings of the company. IMC Chicago LLC raised its stake in ProShares Ultra Utilities by 13.1% during the 1st quarter. IMC Chicago LLC now owns 33,657 shares of the company’s stock valued at $834,000 after purchasing an additional 3,895 shares during the period. Osaic Holdings Inc. grew its holdings in ProShares Ultra Utilities by 278.1% during the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after buying an additional 20,578 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of ProShares Ultra Utilities during the fourth quarter valued at approximately $26,000.

ProShares Ultra Utilities Stock Performance

NYSEARCA:UPW opened at $22.79 on Friday. The stock has a 50-day simple moving average of $23.51 and a two-hundred day simple moving average of $23.96. The firm has a market capitalization of $17.32 million, a PE ratio of 21.21 and a beta of 1.15. ProShares Ultra Utilities has a 52-week low of $20.25 and a 52-week high of $26.80.

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.