ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Update
by Mitch Edgeman · The Markets DailyProShares Ultra Consumer Staples (NYSEARCA:UGE – Get Free Report) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 23,145 shares, a decline of 66.3% from the February 26th total of 68,724 shares. Based on an average trading volume of 89,070 shares, the short-interest ratio is currently 0.3 days. Approximately 3.9% of the company’s stock are sold short.
ProShares Ultra Consumer Staples Stock Performance
Shares of NYSEARCA:UGE traded up $0.20 during midday trading on Friday, hitting $18.26. 91,180 shares of the stock were exchanged, compared to its average volume of 67,700. ProShares Ultra Consumer Staples has a 52-week low of $15.74 and a 52-week high of $22.26. The business’s fifty day simple moving average is $20.01 and its two-hundred day simple moving average is $18.10. The company has a market capitalization of $10.96 million, a PE ratio of 23.21 and a beta of 1.56.
ProShares Ultra Consumer Staples Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be paid a dividend of $0.0581 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.3%.
Institutional Investors Weigh In On ProShares Ultra Consumer Staples
Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. acquired a new position in ProShares Ultra Consumer Staples in the second quarter worth approximately $388,000. EverSource Wealth Advisors LLC raised its position in ProShares Ultra Consumer Staples by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in ProShares Ultra Consumer Staples in the third quarter valued at approximately $478,000.
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.