ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 2,127 shares, a drop of 94.7% from the May 31st total of 40,252 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 7,860 shares, the short-interest ratio is currently 0.3 days.
Institutional Investors Weigh In On ProShares UltraShort Materials
An institutional investor recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP acquired a new position in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned about 18.35% of ProShares UltraShort Materials as of its most recent filing with the Securities and Exchange Commission (SEC).
ProShares UltraShort Materials Price Performance
SMN traded up $0.15 during trading on Friday, reaching $19.64. 2,723 shares of the stock traded hands, compared to its average volume of 8,499. ProShares UltraShort Materials has a fifty-two week low of $18.46 and a fifty-two week high of $31.02. The stock’s 50-day simple moving average is $20.18 and its two-hundred day simple moving average is $21.64.
ProShares UltraShort Materials Company Profile
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.
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