ProShares Ultra Materials (NYSEARCA:UYM) Stock Short Interest Jumps 176.4%

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 7,656 shares, an increase of 176.4% from the October 15th total of 2,770 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 3,918 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of ProShares Ultra Materials

A hedge fund recently bought a new stake in ProShares Ultra Materials stock. Toth Financial Advisory Corp purchased a new position in ProShares Ultra Materials (NYSEARCA:UYM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,200 shares of the company’s stock, valued at approximately $32,000. Toth Financial Advisory Corp owned about 0.10% of ProShares Ultra Materials at the end of the most recent quarter.

ProShares Ultra Materials Price Performance

Shares of ProShares Ultra Materials stock opened at $30.62 on Friday. ProShares Ultra Materials has a 1-year low of $21.34 and a 1-year high of $34.54. The company has a market capitalization of $38.58 million, a PE ratio of 22.90 and a beta of 1.83. The business has a 50-day moving average of $29.28 and a 200-day moving average of $30.20.

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.