ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Up 134.7% in May

ProShares Ultra Utilities (NYSEARCA:UPW) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 15,994 shares, a growth of 134.7% from the May 14th total of 6,815 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 23,054 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On ProShares Ultra Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC acquired a new position in ProShares Ultra Utilities in the 4th quarter valued at $646,000. Garton & Associates Financial Advisors LLC acquired a new position in ProShares Ultra Utilities in the 4th quarter valued at $26,000. Finally, Osaic Holdings Inc. raised its holdings in ProShares Ultra Utilities by 278.1% in the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares in the last quarter.

ProShares Ultra Utilities Price Performance

Shares of NYSEARCA UPW opened at $22.91 on Friday. The stock has a market capitalization of $22.22 million, a PE ratio of 21.21 and a beta of 1.15. The business has a fifty day moving average price of $23.94 and a two-hundred day moving average price of $23.54. ProShares Ultra Utilities has a fifty-two week low of $19.21 and a fifty-two week high of $26.80.

About ProShares Ultra Utilities

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.