ProShares UltraShort Oil & Gas’ (DUG) “Neutral” Rating Reaffirmed at Raymond James
ProShares UltraShort Oil & Gas (NYSEARCA:DUG)‘s stock had its “neutral” rating restated by Raymond James in a report issued on Thursday. They currently have a $0.30 price target on the stock. Raymond James’ price target would suggest a potential downside of 99.28% from the stock’s previous close.
DUG traded up $2.52 during trading on Thursday, hitting $41.82. The company had a trading volume of 13,231 shares, compared to its average volume of 70,950. ProShares UltraShort Oil & Gas has a 1-year low of $27.88 and a 1-year high of $45.82.
An institutional investor recently raised its position in ProShares UltraShort Oil & Gas stock. Tower Research Capital LLC TRC boosted its stake in ProShares UltraShort Oil & Gas (NYSEARCA:DUG) by 6,046.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,522 shares of the company’s stock after buying an additional 13,302 shares during the period. Tower Research Capital LLC TRC owned 2.62% of ProShares UltraShort Oil & Gas worth $403,000 at the end of the most recent quarter.
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.
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