ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Down 37.9% in February

by · The Markets Daily

ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 6,438 shares, a drop of 37.9% from the February 12th total of 10,366 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 36,527 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 36,527 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.0% of the company’s shares are sold short.

ProShares Ultra Utilities Trading Up 1.6%

NYSEARCA UPW traded up $0.41 during trading hours on Friday, reaching $25.82. The company had a trading volume of 82,712 shares, compared to its average volume of 25,088. The stock has a market capitalization of $16.27 million, a P/E ratio of 21.21 and a beta of 1.20. The stock has a 50-day moving average of $23.58 and a 200 day moving average of $23.10. ProShares Ultra Utilities has a 1-year low of $15.52 and a 1-year high of $26.80.

Hedge Funds Weigh In On ProShares Ultra Utilities

Several large investors have recently made changes to their positions in UPW. Envestnet Asset Management Inc. boosted its position in shares of ProShares Ultra Utilities by 199.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,635 shares of the company’s stock worth $2,072,000 after purchasing an additional 17,073 shares during the period. IMC Chicago LLC acquired a new stake in ProShares Ultra Utilities in the 4th quarter valued at approximately $646,000. Osaic Holdings Inc. raised its position in ProShares Ultra Utilities by 278.1% in the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after purchasing an additional 20,578 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in ProShares Ultra Utilities in the fourth quarter valued at approximately $26,000.

About ProShares Ultra Utilities

(Get Free Report)

ProShares Ultra Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Utilities 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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