ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 86.0% in August

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 4,097 shares, a decrease of 86.0% from the August 15th total of 29,221 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 14,158 shares, the days-to-cover ratio is currently 0.3 days.

ProShares Ultra Materials Trading Up 0.4%

Shares of UYM stock traded up $0.13 during trading hours on Friday, hitting $29.27. 9,388 shares of the company were exchanged, compared to its average volume of 16,674. The firm has a fifty day simple moving average of $30.61 and a 200 day simple moving average of $30.37. ProShares Ultra Materials has a 52-week low of $21.34 and a 52-week high of $34.54. The stock has a market capitalization of $37.47 million, a price-to-earnings ratio of 22.90 and a beta of 1.88.

Institutional Trading of ProShares Ultra Materials

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of ProShares Ultra Materials in the 2nd quarter valued at about $57,000. Godfrey Financial Associates Inc. bought a new stake in shares of ProShares Ultra Materials during the 4th quarter valued at about $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings 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 worth $44,000 after purchasing an additional 450 shares in the last quarter.

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.