ProShares Smart Materials ETF (NYSEARCA:TINT) Short Interest Down 73.0% in May

ProShares Smart Materials ETF (NYSEARCA:TINT) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 888 shares, a decline of 73.0% from the May 14th total of 3,286 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 757 shares, the days-to-cover ratio is presently 1.2 days.

ProShares Smart Materials ETF Stock Up 1.1%

Shares of ProShares Smart Materials ETF stock traded up $0.45 during trading hours on Friday, reaching $41.84. 2,021 shares of the stock traded hands, compared to its average volume of 681. The company has a 50 day moving average price of $40.02 and a 200 day moving average price of $37.09. The firm has a market capitalization of $2.09 million, a price-to-earnings ratio of 18.76 and a beta of 1.22. ProShares Smart Materials ETF has a one year low of $29.30 and a one year high of $42.55.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares Smart Materials ETF stock. Jane Street Group LLC grew its stake in shares of ProShares Smart Materials ETF (NYSEARCA:TINT) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,551 shares of the company’s stock after buying an additional 3,146 shares during the period. Jane Street Group LLC owned 43.10% of ProShares Smart Materials ETF worth $607,000 at the end of the most recent reporting period.

About ProShares Smart Materials ETF

The ProShares Smart Materials ETF (TINT) is an exchange-traded fund that is based on the Solactive Smart Materials index. The fund tracks a market-cap weighted index of global companies that have significant exposure to smart materials, also known as intelligent or responsive materials. TINT was launched on Oct 26, 2021 and is managed by ProShares.