Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Decreases By 52.5%

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 2,085 shares, a drop of 52.5% from the February 12th total of 4,388 shares. Based on an average daily volume of 17,940 shares, the short-interest ratio is presently 0.1 days. Approximately 2.6% of the shares of the stock are short sold. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily volume of 17,940 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of ProShares UltraShort Materials

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in shares of ProShares UltraShort Materials (NYSEARCA:SMN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned 18.35% of ProShares UltraShort Materials at the end of the most recent reporting period.

ProShares UltraShort Materials Stock Up 2.1%

Shares of SMN traded up $0.23 during mid-day trading on Friday, reaching $11.19. 3,334 shares of the stock traded hands, compared to its average volume of 15,784. The firm has a fifty day moving average price of $10.57 and a 200 day moving average price of $12.69. ProShares UltraShort Materials has a 1 year low of $9.23 and a 1 year high of $21.31.

About ProShares UltraShort Materials

ProShares UltraShort Basic Materials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Basic Materials Index (the Index). The Index measures the performance of the basic materials industry of the United States equity market. Component companies are involved in the production of aluminum, steel, non-ferrous metals, commodity chemicals, specialty chemicals, forest products, paper products, as well as the mining of precious metals and coal.