ProShares UltraShort Energy (NYSEARCA:DUG) Short Interest Update

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 268,199 shares, a growth of 316.8% from the August 15th total of 64,350 shares. Based on an average trading volume of 194,056 shares, the days-to-cover ratio is presently 1.4 days. Currently, 22.2% of the company’s stock are short sold.

ProShares UltraShort Energy Stock Performance

NYSEARCA:DUG opened at $14.11 on Friday. The firm has a 50-day simple moving average of $16.61 and a two-hundred day simple moving average of $18.25. ProShares UltraShort Energy has a fifty-two week low of $13.68 and a fifty-two week high of $36.99.

Hedge Funds Weigh In On ProShares UltraShort Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in ProShares UltraShort Energy during the fourth quarter valued at approximately $25,000. Jane Street Group LLC lifted its holdings in ProShares UltraShort Energy by 10.8% in the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock valued at $267,000 after acquiring an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of ProShares UltraShort Energy by 7,879.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after purchasing an additional 28,919 shares during the period.

ProShares UltraShort Energy Company Profile

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.