ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 9,935 shares, a decline of 42.1% from the September 30th total of 17,146 shares. Based on an average daily volume of 22,855 shares, the short-interest ratio is currently 0.4 days. Currently, 1.7% of the shares of the company are short sold.
ProShares Ultra Utilities Price Performance
Shares of UPW stock traded up $0.31 on Friday, hitting $21.50. 18,291 shares of the stock traded hands, compared to its average volume of 21,258. ProShares Ultra Utilities has a 52 week low of $17.57 and a 52 week high of $26.80. The firm has a 50 day simple moving average of $20.00 and a two-hundred day simple moving average of $22.85. The firm has a market cap of $12.90 million, a price-to-earnings ratio of 21.21 and a beta of 1.11.
Hedge Funds Weigh In On ProShares Ultra Utilities
An institutional investor recently raised its position in ProShares Ultra Utilities stock. IMC Chicago LLC increased its stake in ProShares Ultra Utilities (NYSEARCA:UPW – Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,657 shares of the company’s stock after acquiring an additional 3,895 shares during the quarter. IMC Chicago LLC owned approximately 3.47% of ProShares Ultra Utilities worth $834,000 at the end of the most recent reporting period.
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.
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