Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Decreases By 94.7%

ProShares UltraShort Materials (NYSEARCA:SMN) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 2,127 shares, a decline of 94.7% from the May 31st total of 40,252 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 7,860 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On ProShares UltraShort Materials

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new position in ProShares UltraShort Materials (NYSEARCA:SMN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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 Price Performance

Shares of ProShares UltraShort Materials stock traded down $0.50 during trading hours on Thursday, hitting $19.49. 9,536 shares of the company were exchanged, compared to its average volume of 8,547. The business has a 50-day moving average of $20.19 and a 200-day moving average of $21.66. ProShares UltraShort Materials has a 1 year low of $18.46 and a 1 year high of $31.02.

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.