ProShares UltraShort Materials (NYSEARCA:SMN) Short Interest Update

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 769 shares, a drop of 57.7% from the August 31st total of 1,820 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 1,257 shares, the days-to-cover ratio is currently 0.6 days.

ProShares UltraShort Materials Stock Up 1.6%

ProShares UltraShort Materials stock traded up $0.33 on Tuesday, reaching $21.47. 5,091 shares of the stock were exchanged, compared to its average volume of 6,350. ProShares UltraShort Materials has a twelve month low of $17.93 and a twelve month high of $31.02. The firm has a fifty day moving average price of $19.58 and a two-hundred day moving average price of $20.22.

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.