ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Significant Decline in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 1,456 shares, a drop of 49.0% from the September 30th total of 2,853 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 17,484 shares, the days-to-cover ratio is currently 0.1 days.

ProShares Ultra Consumer Staples Stock Up 2.8%

NYSEARCA UGE traded up $0.59 during trading on Monday, hitting $21.78. The company’s stock had a trading volume of 51,636 shares, compared to its average volume of 54,389. The firm has a 50 day moving average price of $19.05 and a 200 day moving average price of $19.28. The firm has a market cap of $11.76 million, a P/E ratio of 23.21 and a beta of 1.34. ProShares Ultra Consumer Staples has a 52 week low of $15.74 and a 52 week high of $22.26.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

A hedge fund recently raised its position in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. raised its stake in ProShares Ultra Consumer Staples (NYSEARCA:UGE) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,102 shares of the company’s stock after purchasing an additional 1,790 shares during the period. Envestnet Asset Management Inc. owned approximately 4.60% of ProShares Ultra Consumer Staples worth $411,000 as of its most recent SEC filing.

About ProShares Ultra Consumer Staples

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.