Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Rises By 37.3%

ProShares Ultra Utilities (NYSEARCA:UPW) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 11,027 shares, an increase of 37.3% from the January 15th total of 8,030 shares. Based on an average daily volume of 8,797 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.8% of the shares of the company are short sold. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 8,797 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of ProShares Ultra Utilities

Hedge funds and other institutional investors have recently bought and sold shares of the company. IMC Chicago LLC bought a new position in ProShares Ultra Utilities in the 4th quarter valued at $646,000. Envestnet Asset Management Inc. raised its position in shares of ProShares Ultra Utilities by 199.4% in the second quarter. Envestnet Asset Management Inc. now owns 25,635 shares of the company’s stock worth $2,072,000 after buying an additional 17,073 shares in the last quarter. Finally, Freedom Investment Management Inc. purchased a new stake in shares of ProShares Ultra Utilities in the second quarter worth $470,000.

ProShares Ultra Utilities Price Performance

UPW stock traded up $1.34 during mid-day trading on Monday, reaching $25.50. 29,792 shares of the company traded hands, compared to its average volume of 20,113. The company has a fifty day moving average price of $22.09 and a 200-day moving average price of $22.63. ProShares Ultra Utilities has a 52-week low of $15.52 and a 52-week high of $26.20. The company has a market capitalization of $16.07 million, a P/E ratio of 21.21 and a beta of 1.20.

ProShares Ultra Utilities Company Profile

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.