ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 32.7% in February

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 21,874 shares, a decline of 32.7% from the January 29th total of 32,513 shares. Based on an average daily volume of 39,991 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.5% of the company’s stock are short sold. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 39,991 shares, the days-to-cover ratio is presently 0.5 days.

ProShares Ultra Materials Price Performance

UYM stock traded down $0.41 on Monday, reaching $33.04. 15,062 shares of the company traded hands, compared to its average volume of 29,079. The firm has a fifty day simple moving average of $29.25 and a 200-day simple moving average of $25.76. The company has a market cap of $47.24 million, a P/E ratio of 22.90 and a beta of 2.13. ProShares Ultra Materials has a one year low of $17.03 and a one year high of $34.54.

Hedge Funds Weigh In On ProShares Ultra Materials

A number of hedge funds have recently bought and sold shares of UYM. Envestnet Asset Management Inc. bought a new position in ProShares Ultra Materials in the 2nd quarter valued at approximately $383,000. Allworth Financial LP purchased a new position in shares of ProShares Ultra Materials in the second quarter worth $66,000. EverSource Wealth Advisors LLC raised its stake in shares of ProShares Ultra Materials by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 450 shares during the last quarter. Bank of America Corp DE bought a new position in shares of ProShares Ultra Materials during the second quarter valued at $57,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of ProShares Ultra Materials during the fourth quarter valued at $44,000.

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.