Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Decreases By 52.5%

ProShares UltraShort Materials (NYSEARCA:SMN) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 2,085 shares, a drop of 52.5% from the February 12th total of 4,388 shares. Based on an average trading volume of 17,940 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.6% of the shares of the stock are sold short. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 17,940 shares, the days-to-cover ratio is presently 0.1 days.

ProShares UltraShort Materials Stock Performance

Shares of SMN traded up $0.23 during trading hours on Friday, reaching $11.19. 3,334 shares of the company’s stock traded hands, compared to its average volume of 15,784. The firm’s 50 day simple moving average is $10.57 and its 200-day simple moving average is $12.69. ProShares UltraShort Materials has a 12 month low of $9.23 and a 12 month high of $21.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new position in ProShares UltraShort Materials (NYSEARCA:SMN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 at the end of the most recent quarter.

ProShares UltraShort Materials Company Profile

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.