ProShares UltraShort Materials (NYSEARCA:SMN) Sees Large Growth in Short Interest

ProShares UltraShort Materials (NYSEARCA:SMN) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 4,388 shares, a growth of 90.0% from the January 29th total of 2,310 shares. Based on an average daily trading volume, of 25,839 shares, the short-interest ratio is presently 0.2 days. Currently, 5.5% of the company’s shares are short sold. Currently, 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 25,839 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in shares of ProShares UltraShort Materials (NYSEARCA:SMN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned about 18.35% of ProShares UltraShort Materials as of its most recent filing with the SEC.

ProShares UltraShort Materials Price Performance

Shares of SMN opened at $9.46 on Friday. ProShares UltraShort Materials has a 12-month low of $9.23 and a 12-month high of $21.31. The firm has a fifty day moving average price of $11.06 and a 200-day moving average price of $12.91.

About ProShares UltraShort Materials

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.