Short Interest in Procure Space ETF (NASDAQ:UFO) Rises By 60.5%

Procure Space ETF (NASDAQ:UFO) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 376,683 shares, a growth of 60.5% from the February 26th total of 234,656 shares. Based on an average daily volume of 445,708 shares, the short-interest ratio is currently 0.8 days. Approximately 4.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UFO. LPL Financial LLC grew its stake in shares of Procure Space ETF by 10.8% in the fourth quarter. LPL Financial LLC now owns 6,469 shares of the company’s stock worth $250,000 after acquiring an additional 629 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Procure Space ETF during the fourth quarter valued at $30,000. Geneos Wealth Management Inc. raised its position in shares of Procure Space ETF by 452.6% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,050 shares of the company’s stock worth $37,000 after purchasing an additional 860 shares during the last quarter. Composition Wealth LLC boosted its stake in Procure Space ETF by 13.5% in the 4th quarter. Composition Wealth LLC now owns 7,800 shares of the company’s stock worth $301,000 after purchasing an additional 930 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Procure Space ETF by 1,550.8% in the 3rd quarter. IFP Advisors Inc now owns 1,948 shares of the company’s stock worth $69,000 after purchasing an additional 1,830 shares in the last quarter.

Procure Space ETF Stock Performance

UFO stock opened at $44.16 on Friday. The firm has a 50 day moving average price of $45.26 and a 200-day moving average price of $40.04. Procure Space ETF has a 52-week low of $18.40 and a 52-week high of $48.92. The firm has a market capitalization of $355.49 million, a price-to-earnings ratio of 18.98 and a beta of 1.24.

Procure Space ETF Company Profile

The Procure Space ETF (UFO) is an exchange-traded fund that is based on the S-Network Space index. The fund tracks a tier-weighted index of aerospace companies located globally. UFO was launched on Apr 11, 2019 and is managed by ProcureAM.