ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 6,167 shares, an increase of 189.9% from the June 15th total of 2,127 shares. Based on an average daily volume of 4,818 shares, the short-interest ratio is currently 1.3 days. Approximately 3.1% of the company’s stock are short sold.
ProShares UltraShort Materials Stock Down 0.5%
Shares of ProShares UltraShort Materials stock traded down $0.10 on Tuesday, reaching $20.38. 3,412 shares of the company were exchanged, compared to its average volume of 8,137. The company’s 50-day moving average is $20.22 and its two-hundred day moving average is $21.01. ProShares UltraShort Materials has a 1-year low of $18.46 and a 1-year high of $31.02.
Hedge Funds Weigh In On ProShares UltraShort Materials
An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned 18.35% of ProShares UltraShort Materials as of its most recent filing with the Securities and Exchange Commission.
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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