ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Up 80.1% in June

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 45,912 shares, an increase of 80.1% from the June 15th total of 25,487 shares. Based on an average daily trading volume, of 88,951 shares, the short-interest ratio is currently 0.5 days. Approximately 7.5% of the company’s stock are sold short.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Several hedge funds have recently made changes to their positions in UGE. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Consumer Staples during the first quarter worth about $601,000. Susquehanna International Group LLP purchased a new stake in shares of ProShares Ultra Consumer Staples in the 3rd quarter valued at about $478,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ProShares Ultra Consumer Staples by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after purchasing an additional 6,100 shares during the last quarter.

ProShares Ultra Consumer Staples Price Performance

NYSEARCA UGE opened at $19.81 on Friday. The firm’s fifty day moving average price is $19.14 and its 200 day moving average price is $19.15. ProShares Ultra Consumer Staples has a 12 month low of $15.74 and a 12 month high of $22.26. The company has a market capitalization of $11.09 million, a price-to-earnings ratio of 23.21 and a beta of 1.33.

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.