ProShares Ultra Consumer Staples (NYSEARCA:UGE – Get Free Report) was the target of a large drop in short interest in 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. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 17,484 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
A hedge fund recently raised its position in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. grew its stake in shares of ProShares Ultra Consumer Staples (NYSEARCA:UGE – Free Report) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,102 shares of the company’s stock after purchasing an additional 1,790 shares during the quarter. Envestnet Asset Management Inc. owned about 4.60% of ProShares Ultra Consumer Staples worth $411,000 at the end of the most recent quarter.
ProShares Ultra Consumer Staples Price Performance
Shares of ProShares Ultra Consumer Staples stock traded up $0.64 during trading hours on Friday, hitting $21.19. The company’s stock had a trading volume of 148,252 shares, compared to its average volume of 54,417. The company has a market capitalization of $11.44 million, a PE ratio of 23.21 and a beta of 1.34. The stock has a 50 day moving average of $19.05 and a 200 day moving average of $19.28. ProShares Ultra Consumer Staples has a 12 month low of $15.74 and a 12 month high of $22.26.
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.
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