ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Up 143.4% in June

ProShares Ultra Materials (NYSEARCA:UYM) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 7,512 shares, an increase of 143.4% from the May 31st total of 3,086 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 10,033 shares, the short-interest ratio is presently 0.7 days.

ProShares Ultra Materials Stock Performance

Shares of ProShares Ultra Materials stock traded up $0.28 during trading on Tuesday, reaching $29.70. The company had a trading volume of 2,644 shares, compared to its average volume of 18,274. The company has a market cap of $40.09 million, a price-to-earnings ratio of 22.90 and a beta of 1.86. The firm’s fifty day moving average is $30.42 and its 200-day moving average is $29.48. ProShares Ultra Materials has a fifty-two week low of $21.34 and a fifty-two week high of $34.54.

Institutional Trading of ProShares Ultra Materials

Hedge funds and other institutional investors have recently bought and sold shares of the company. Godfrey Financial Associates Inc. bought a new position in ProShares Ultra Materials during the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC increased its holdings in shares of ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after acquiring an additional 450 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of ProShares Ultra Materials during the 2nd quarter valued at approximately $57,000.

ProShares Ultra Materials Company Profile

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.