ProShares Ultra Materials (NYSEARCA:UYM) Sees Significant Increase in Short Interest

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 7,512 shares, an increase of 143.4% from the May 31st total of 3,086 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 10,033 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Godfrey Financial Associates Inc. purchased a new position in ProShares Ultra Materials in the 4th quarter valued at approximately $44,000. Bank of America Corp DE bought a new stake in shares of ProShares Ultra Materials during the 2nd quarter valued at $57,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in ProShares Ultra Materials by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 450 shares in the last quarter.

ProShares Ultra Materials Trading Down 4.2%

Shares of UYM stock traded down $1.28 on Monday, hitting $29.45. 27,638 shares of the stock were exchanged, compared to its average volume of 18,388. The firm has a market capitalization of $39.75 million, a PE ratio of 22.90 and a beta of 1.86. ProShares Ultra Materials has a one year low of $21.34 and a one year high of $34.54. The firm’s 50 day moving average is $30.49 and its two-hundred day moving average is $29.39.

About ProShares Ultra Materials

ProShares Ultra Basic Materials ETF (the Fund) seeks daily investment results that correspond to twice (200%) the 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.