ProShares UltraShort Energy (NYSEARCA:DUG) Short Interest Update
by Scott Moore · The Cerbat GemProShares UltraShort Energy (NYSEARCA:DUG – Get Free Report) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 14,849 shares, a decline of 74.0% from the May 14th total of 57,165 shares. Based on an average trading volume of 203,688 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.5% of the shares of the company are sold short.
Institutional Investors Weigh In On ProShares UltraShort Energy
A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of ProShares UltraShort Energy by 10.8% during the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock worth $267,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of ProShares UltraShort Energy by 7,879.8% in the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after acquiring an additional 28,919 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of ProShares UltraShort Energy in the fourth quarter valued at about $25,000.
ProShares UltraShort Energy Stock Performance
Shares of NYSEARCA DUG traded up $0.74 during midday trading on Thursday, hitting $18.91. 129,928 shares of the company’s stock were exchanged, compared to its average volume of 113,010. The company’s 50 day moving average price is $18.63 and its 200 day moving average price is $23.44. ProShares UltraShort Energy has a 12 month low of $15.65 and a 12 month high of $38.27.
About ProShares UltraShort Energy
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.