ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Significant Decrease in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 1,456 shares, a decrease of 49.0% from the September 30th total of 2,853 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 17,484 shares, the short-interest ratio is currently 0.1 days.

ProShares Ultra Consumer Staples Trading Up 3.1%

Shares of UGE traded up $0.64 during mid-day trading on Friday, hitting $21.19. 148,252 shares of the company traded hands, compared to its average volume of 54,417. The business has a 50-day moving average of $19.05 and a 200 day moving average of $19.28. ProShares Ultra Consumer Staples has a one year low of $15.74 and a one year high of $22.26. The stock has a market capitalization of $11.44 million, a price-to-earnings ratio of 23.21 and a beta of 1.34.

Institutional Trading of ProShares Ultra Consumer Staples

An institutional investor recently raised its position in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. raised its position in ProShares Ultra Consumer Staples (NYSEARCA:UGE) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,102 shares of the company’s stock after purchasing an additional 1,790 shares during the period. Envestnet Asset Management Inc. owned approximately 4.60% of ProShares Ultra Consumer Staples worth $411,000 as of its most recent filing with the SEC.

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.