ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 4,208 shares, a decrease of 44.0% from the June 15th total of 7,512 shares. Based on an average daily trading volume, of 9,590 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the company’s shares are short sold.
Hedge Funds Weigh In On ProShares Ultra Materials
Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of ProShares Ultra Materials by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after purchasing an additional 450 shares during the period. Bank of America Corp DE purchased a new position in shares of ProShares Ultra Materials in the second quarter worth $57,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of ProShares Ultra Materials in the fourth quarter worth $44,000.
ProShares Ultra Materials Stock Down 1.4%
Shares of UYM traded down $0.42 during trading hours on Friday, hitting $29.22. The company had a trading volume of 495 shares, compared to its average volume of 17,361. The firm has a market cap of $37.41 million, a P/E ratio of 22.90 and a beta of 1.87. The stock’s 50 day moving average price is $30.11 and its 200 day moving average price is $29.93. ProShares Ultra Materials has a 52-week low of $21.34 and a 52-week high of $34.54.
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.
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