ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 34.6% in July

ProShares Ultra Materials (NYSEARCA:UYM) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 2,753 shares, a decline of 34.6% from the June 30th total of 4,208 shares. Based on an average daily volume of 9,156 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

ProShares Ultra Materials Price Performance

UYM stock traded down $1.44 during midday trading on Friday, hitting $29.01. The stock had a trading volume of 11,916 shares, compared to its average volume of 16,659. The firm has a market cap of $37.13 million, a price-to-earnings ratio of 22.90 and a beta of 1.87. The business has a 50-day moving average of $30.05 and a two-hundred day moving average of $30.20. ProShares Ultra Materials has a 52-week low of $21.34 and a 52-week high of $34.54.

Institutional Trading of ProShares Ultra Materials

A number of hedge funds have recently modified their holdings of UYM. EverSource Wealth Advisors LLC increased its stake in shares of ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after acquiring an additional 450 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in ProShares Ultra Materials during the 4th quarter valued at about $44,000. Finally, Bank of America Corp DE bought a new stake in ProShares Ultra Materials during the second quarter worth about $57,000.

ProShares Ultra Materials Company Profile

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.