ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Down 66.4% in March

ProShares Ultra Utilities (NYSEARCA:UPW) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 13,533 shares, a drop of 66.4% from the March 15th total of 40,251 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 25,239 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of ProShares Ultra Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Utilities during the 4th quarter worth approximately $646,000. Osaic Holdings Inc. grew its holdings in shares of ProShares Ultra Utilities by 278.1% during the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock worth $608,000 after purchasing an additional 20,578 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of ProShares Ultra Utilities during the 4th quarter worth approximately $26,000.

ProShares Ultra Utilities Stock Down 1.0%

UPW opened at $25.94 on Friday. The firm has a market capitalization of $25.16 million, a P/E ratio of 21.21 and a beta of 1.29. The stock’s 50 day moving average price is $24.86 and its two-hundred day moving average price is $23.60. ProShares Ultra Utilities has a 12-month low of $17.01 and a 12-month high of $26.80.

ProShares Ultra Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a $0.0682 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.27 dividend on an annualized basis and a yield of 1.1%.

About ProShares Ultra Utilities

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.