Short Interest in ProShares Ultra Consumer Staples (NYSEARCA:UGE) Rises By 422.8%

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 25,487 shares, an increase of 422.8% from the May 31st total of 4,875 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average trading volume of 77,244 shares, the short-interest ratio is presently 0.3 days.

ProShares Ultra Consumer Staples Price Performance

UGE opened at $19.50 on Friday. ProShares Ultra Consumer Staples has a 12 month low of $15.74 and a 12 month high of $22.26. The stock has a market capitalization of $12.87 million, a price-to-earnings ratio of 23.21 and a beta of 1.33. The business has a fifty day moving average price of $19.04 and a 200 day moving average price of $18.93.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Consumer Staples during the first quarter worth about $601,000. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Consumer Staples in the third quarter valued at approximately $478,000. Finally, EverSource Wealth Advisors LLC raised its holdings in ProShares Ultra Consumer Staples by 332.4% in 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.

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.