ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Large Decrease in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 23,145 shares, a decline of 66.3% from the February 26th total of 68,724 shares. Based on an average daily volume of 89,070 shares, the short-interest ratio is presently 0.3 days. Currently, 3.9% of the company’s shares are short sold. Currently, 3.9% of the company’s shares are short sold. Based on an average daily volume of 89,070 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

A number of institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in ProShares Ultra Consumer Staples by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after acquiring an additional 6,100 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of ProShares Ultra Consumer Staples during the second quarter worth $388,000. Finally, Susquehanna International Group LLP bought a new stake in shares of ProShares Ultra Consumer Staples during the third quarter worth $478,000.

ProShares Ultra Consumer Staples Stock Down 1.3%

ProShares Ultra Consumer Staples stock traded down $0.23 during midday trading on Wednesday, reaching $17.88. The stock had a trading volume of 1,454 shares, compared to its average volume of 66,732. ProShares Ultra Consumer Staples has a 52-week low of $15.74 and a 52-week high of $22.26. The firm has a market cap of $10.73 million, a price-to-earnings ratio of 23.21 and a beta of 1.56. The company has a fifty day moving average of $20.04 and a 200 day moving average of $18.10.

ProShares Ultra Consumer Staples Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be paid a dividend of $0.0581 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.3%.

ProShares Ultra Consumer Staples Company Profile

ProShares Ultra Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Consumer Goods 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.