ProShares Ultra Real Estate (NYSEARCA:URE) Short Interest Up 389.0% in April

ProShares Ultra Real Estate (NYSEARCA:URE) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 4,518 shares, an increase of 389.0% from the March 31st total of 924 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 5,590 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On ProShares Ultra Real Estate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its position in ProShares Ultra Real Estate by 0.7% during the fourth 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 bought a new stake in shares of ProShares Ultra Real Estate in the third quarter valued at about $806,000. Wells Fargo & Company MN boosted its position in shares of ProShares Ultra Real Estate by 364,100.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,642 shares of the company’s stock valued at $214,000 after acquiring an additional 3,641 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of ProShares Ultra Real Estate in the fourth quarter valued at about $63,000.

ProShares Ultra Real Estate Trading Down 0.7%

Shares of URE opened at $68.34 on Friday. The company has a market cap of $56.72 million, a price-to-earnings ratio of 35.25 and a beta of 2.00. ProShares Ultra Real Estate has a 1-year low of $57.38 and a 1-year high of $71.00. The company’s fifty day simple moving average is $64.92 and its 200 day simple moving average is $62.44.

About ProShares Ultra Real Estate

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.