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

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 37,757 shares, a growth of 2,493.2% from the October 15th total of 1,456 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 58,914 shares, the short-interest ratio is presently 0.6 days.

ProShares Ultra Consumer Staples Price Performance

Shares of UGE stock traded up $0.01 during trading on Thursday, hitting $22.07. 15,596 shares of the stock traded hands, compared to its average volume of 57,310. The firm has a market capitalization of $11.92 million, a P/E ratio of 23.21 and a beta of 1.21. The firm’s fifty day moving average price is $19.40 and its 200-day moving average price is $19.40. ProShares Ultra Consumer Staples has a 52-week low of $16.14 and a 52-week high of $22.99.

Institutional Investors Weigh In On ProShares Ultra Consumer Staples

An institutional investor recently raised its stake in ProShares Ultra Consumer Staples stock. Envestnet Asset Management Inc. lifted its position in shares of ProShares Ultra Consumer Staples (NYSEARCA:UGE) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,102 shares of the company’s stock after purchasing an additional 1,790 shares during the period. Envestnet Asset Management Inc. owned about 4.60% of ProShares Ultra Consumer Staples worth $411,000 at the end of the most recent reporting period.

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.