Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Grows By 525.2%

ProShares Ultra Utilities (NYSEARCA:UPW) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 40,251 shares, an increase of 525.2% from the February 26th total of 6,438 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average trading volume of 29,844 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of ProShares Ultra Utilities

Several hedge funds have recently modified their holdings of the stock. Garton & Associates Financial Advisors LLC bought a new stake in ProShares Ultra Utilities in the fourth quarter valued at $26,000. Osaic Holdings Inc. grew its holdings in shares of ProShares Ultra Utilities by 278.1% during the fourth quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after buying an additional 20,578 shares during the last quarter. Finally, IMC Chicago LLC bought a new stake in ProShares Ultra Utilities during the 4th quarter worth approximately $646,000.

ProShares Ultra Utilities Trading Up 0.5%

UPW stock traded up $0.12 during trading on Thursday, hitting $24.27. The company had a trading volume of 2,109 shares, compared to its average volume of 23,669. The stock has a market cap of $15.29 million, a PE ratio of 21.21 and a beta of 1.20. The business has a 50-day moving average of $24.11 and a 200-day moving average of $23.30. ProShares Ultra Utilities has a one year low of $15.52 and a one year high of $26.80.

ProShares Ultra Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.0682 per share. This represents a $0.27 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, March 25th.

ProShares Ultra Utilities Company Profile

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.