Short Interest in ProShares Ultra Real Estate (NYSEARCA:URE) Drops By 49.8%

ProShares Ultra Real Estate (NYSEARCA:URE) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 1,819 shares, a drop of 49.8% from the January 29th total of 3,623 shares. Based on an average daily volume of 6,496 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are short sold. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 6,496 shares, the days-to-cover ratio is presently 0.3 days.

ProShares Ultra Real Estate Stock Performance

Shares of URE traded up $0.77 during trading hours on Friday, hitting $68.62. 4,627 shares of the stock were exchanged, compared to its average volume of 4,049. The stock’s 50-day moving average price is $62.45 and its two-hundred day moving average price is $62.26. ProShares Ultra Real Estate has a 12-month low of $49.03 and a 12-month high of $71.47. The company has a market cap of $62.44 million, a price-to-earnings ratio of 35.25 and a beta of 2.00.

Institutional Trading of ProShares Ultra Real Estate

A number of hedge funds and other institutional investors have recently made changes to their positions in URE. Corient Private Wealth LLC boosted its position in shares of ProShares Ultra Real Estate by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 23,445 shares of the company’s stock worth $1,380,000 after purchasing an additional 153 shares during the period. CWM LLC acquired a new position in ProShares Ultra Real Estate during the third quarter worth $806,000. Wells Fargo & Company MN boosted its position in shares of ProShares Ultra Real Estate by 364,100.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,642 shares of the company’s stock worth $214,000 after buying an additional 3,641 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of ProShares Ultra Real Estate during the fourth quarter worth $63,000.

ProShares Ultra Real Estate Company Profile

ProShares Ultra Real Estate (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments, and real estate investment trusts (REITs) that invest in apartments, office and retail properties.