Shares of ProShares Ultra Basic Materials (NYSEARCA:UYM) rose 0.6% during mid-day trading on Friday . The company traded as high as $60.98 and last traded at $60.98, approximately 11 shares changed hands during mid-day trading. A decline of 100% from the average daily volume of 7,044 shares. The stock had previously closed at $60.59.

The business has a 50-day simple moving average of $54.96 and a 200-day simple moving average of $55.25.

A hedge fund recently bought a new stake in ProShares Ultra Basic Materials stock. Envestnet Asset Management Inc. bought a new position in shares of ProShares Ultra Basic Materials (NYSEARCA:UYM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,843 shares of the company’s stock, valued at approximately $468,000. Envestnet Asset Management Inc. owned approximately 1.05% of ProShares Ultra Basic Materials as of its most recent filing with the SEC.

About ProShares Ultra Basic Materials (NYSEARCA:UYM)

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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