Some traders looking to jolt their returns from the normally slow-moving utilities sector have taken note. Like BIS, the double-leveraged, inverse biotech ETF, UPW was small at the end of last year with just $10.32 million in assets under management, according to ProShares data.
And has been the case with BIS, the current market environment has opened some traders’ eyes to UPW, a fact highlighted by the $18.2 million worth of 2014 inflows to the ETF. That does not sound like much, but remember, UPW had just $10.32 million at the end of last year.
UPW hit a new 52-week high earlier Tuesday before drifting lower, but the fund has not been among the assortment of utilities ETFs regularly hitting new all-time highs. UPW currently resides 7.2% below its all-time high set nearly seven years ago.
ProShares Ultra Utilities