ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 2,770 shares, a drop of 67.2% from the September 30th total of 8,458 shares. Based on an average daily volume of 4,982 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company’s shares are short sold.
ProShares Ultra Materials Stock Up 2.6%
Shares of UYM traded up $0.78 during mid-day trading on Thursday, reaching $31.02. The company’s stock had a trading volume of 3,718 shares, compared to its average volume of 14,802. The company has a market cap of $39.09 million, a price-to-earnings ratio of 22.90 and a beta of 1.88. The business has a fifty day moving average of $29.41 and a 200 day moving average of $30.05. ProShares Ultra Materials has a 1 year low of $21.34 and a 1 year high of $34.54.
Hedge Funds Weigh In On ProShares Ultra Materials
An institutional investor recently bought a new stake in ProShares Ultra Materials stock. Toth Financial Advisory Corp purchased a new position in ProShares Ultra Materials (NYSEARCA:UYM – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,200 shares of the company’s stock, valued at approximately $32,000. Toth Financial Advisory Corp owned approximately 0.10% of ProShares Ultra Materials at the end of the most recent reporting period.
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.
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