ProShares UltraShort Energy (NYSEARCA:DUG) Short Interest Down 43.6% in April

ProShares UltraShort Energy (NYSEARCA:DUG) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 35,558 shares, a drop of 43.6% from the April 15th total of 63,080 shares. Based on an average daily trading volume, of 99,546 shares, the short-interest ratio is currently 0.4 days. Approximately 3.5% of the shares of the company are short sold.

ProShares UltraShort Energy Stock Down 4.6%

Shares of NYSEARCA DUG traded down $0.85 during mid-day trading on Friday, hitting $17.56. The company had a trading volume of 93,655 shares, compared to its average volume of 105,731. The business’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $25.49. ProShares UltraShort Energy has a 12 month low of $15.65 and a 12 month high of $42.18.

Institutional Investors Weigh In On ProShares UltraShort Energy

Several hedge funds have recently made changes to their positions in DUG. Bank of America Corp DE bought a new stake in shares of ProShares UltraShort Energy in the fourth quarter valued at about $25,000. Jane Street Group LLC lifted its stake in shares of ProShares UltraShort Energy by 10.8% in the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock valued at $267,000 after buying an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of ProShares UltraShort Energy by 7,879.8% in the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after buying an additional 28,919 shares during the period.

ProShares UltraShort Energy Company Profile

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.