ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) Short Interest Down 35.8% in May

ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 3,187 shares, a decrease of 35.8% from the May 14th total of 4,964 shares. Based on an average daily volume of 7,615 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares S&P Global Core Battery Metals ETF stock. Jane Street Group LLC bought a new stake in shares of ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,477 shares of the company’s stock, valued at approximately $645,000. Jane Street Group LLC owned approximately 4.99% of ProShares S&P Global Core Battery Metals ETF as of its most recent SEC filing.

ProShares S&P Global Core Battery Metals ETF Stock Performance

Shares of NYSEARCA:ION traded down $1.05 on Tuesday, hitting $58.65. The company’s stock had a trading volume of 2,261 shares, compared to its average volume of 9,333. ProShares S&P Global Core Battery Metals ETF has a 12 month low of $27.11 and a 12 month high of $69.55. The company has a market capitalization of $14.66 million, a price-to-earnings ratio of 16.75 and a beta of 0.92. The stock’s 50-day moving average is $61.28 and its two-hundred day moving average is $57.67.

About ProShares S&P Global Core Battery Metals ETF

The Proshares S&P Global Core Battery Metals ETF (ION) is an exchange-traded fund that is based on the S&P Global Core Battery Metals index. The fund tracks an index of companies from around the world that are engaged in the mining of base metals used to produce batteries. ION was launched on Nov 29, 2022 and is managed by ProShares.