ProShares UltraPro MidCap 400 (NYSEARCA:UMDD) Sees Significant Increase in Short Interest

ProShares UltraPro MidCap 400 (NYSEARCA:UMDD) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 7,482 shares, a growth of 514.3% from the July 30th total of 1,218 shares. Based on an average trading volume of 4,640 shares, the short-interest ratio is currently 1.6 days. Approximately 0.8% of the shares of the stock are short sold.

ProShares UltraPro MidCap 400 Stock Performance

Shares of UMDD opened at $35.40 on Wednesday. The firm has a market cap of $32.57 million, a price-to-earnings ratio of 13.00 and a beta of 3.04. ProShares UltraPro MidCap 400 has a fifty-two week low of $21.52 and a fifty-two week high of $39.16. The firm has a 50 day moving average price of $36.08 and a 200-day moving average price of $32.76.

Hedge Funds Weigh In On ProShares UltraPro MidCap 400

A hedge fund recently bought a new position in ProShares UltraPro MidCap 400 stock. Millington Financial Advisors LLC purchased a new position in ProShares UltraPro MidCap 400 (NYSEARCA:UMDD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,182 shares of the company’s stock, valued at approximately $209,000. Millington Financial Advisors LLC owned about 0.76% of ProShares UltraPro MidCap 400 as of its most recent SEC filing.

ProShares UltraPro MidCap 400 Company Profile

ProShares UltraPro MidCap400 (the Fund), seeks daily investment results, which correspond to triple (300%) the daily performance of the S&P MidCap 400 Index (the Index). The Index is used measure of mid-size company United States stock market performance. Companies are selected for inclusion in the Index by Standard & Poor’s based on adequate liquidity, appropriate market capitalization, financial viability and public float. The investment adviser of the Fund is ProShare Advisors LLC .