Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Rises By 534.3%

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 29,221 shares, an increase of 534.3% from the July 30th total of 4,607 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 25,381 shares, the short-interest ratio is currently 1.2 days.

ProShares Ultra Materials Trading Down 1.6%

NYSEARCA UYM opened at $32.14 on Friday. The firm has a market cap of $41.14 million, a PE ratio of 22.90 and a beta of 1.87. ProShares Ultra Materials has a 1-year low of $21.34 and a 1-year high of $34.54. The stock has a 50-day moving average of $30.53 and a 200-day moving average of $30.53.

Institutional Trading of ProShares Ultra Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake 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 valued at $44,000 after purchasing an additional 450 shares during the period. Bank of America Corp DE purchased a new position in shares of ProShares Ultra Materials in the second quarter worth $57,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of ProShares Ultra Materials in the fourth quarter worth $44,000.

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.