Short Interest in ProShares Ultra Financials (NYSEARCA:UYG) Declines By 23.5%

ProShares Ultra Financials (NYSEARCA:UYG) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 75,387 shares, a decline of 23.5% from the December 31st total of 98,564 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 18,969 shares, the days-to-cover ratio is currently 4.0 days. Based on an average daily trading volume, of 18,969 shares, the days-to-cover ratio is currently 4.0 days. Approximately 0.9% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra Financials

Several institutional investors have recently made changes to their positions in UYG. Cassaday & Co Wealth Management LLC boosted its holdings in ProShares Ultra Financials by 25.2% during the second quarter. Cassaday & Co Wealth Management LLC now owns 34,801 shares of the company’s stock worth $3,325,000 after buying an additional 7,000 shares in the last quarter. Focus Partners Wealth grew its holdings in ProShares Ultra Financials by 20.6% in the third quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after purchasing an additional 2,413 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of ProShares Ultra Financials by 10.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 9,811 shares of the company’s stock valued at $839,000 after buying an additional 945 shares in the last quarter. Truist Financial Corp raised its stake in shares of ProShares Ultra Financials by 103.2% during the 4th quarter. Truist Financial Corp now owns 7,314 shares of the company’s stock worth $671,000 after buying an additional 3,714 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of ProShares Ultra Financials during the 3rd quarter valued at approximately $709,000.

ProShares Ultra Financials Stock Performance

ProShares Ultra Financials stock traded down $2.26 during midday trading on Tuesday, hitting $86.15. 30,572 shares of the company were exchanged, compared to its average volume of 18,832. The firm has a market capitalization of $760.74 million, a PE ratio of 17.45 and a beta of 2.02. ProShares Ultra Financials has a fifty-two week low of $63.09 and a fifty-two week high of $104.32. The business has a fifty day simple moving average of $93.84 and a two-hundred day simple moving average of $95.11.

About ProShares Ultra Financials

ProShares Ultra Financials (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Financials Index. The Dow Jones U.S. Financials Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States domiciled international banks; full line, life, and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies, such as credit card issuers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers including investment banks, merchant banks and online brokers; and publicly traded stock exchanges.