ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) Short Interest Down 35.8% in May

ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 3,187 shares, a decrease of 35.8% from the May 14th total of 4,964 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 7,615 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares S&P Global Core Battery Metals ETF stock. Moran Wealth Management LLC purchased a new position in ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,667 shares of the company’s stock, valued at approximately $999,000. Moran Wealth Management LLC owned approximately 7.07% of ProShares S&P Global Core Battery Metals ETF as of its most recent filing with the Securities & Exchange Commission.

ProShares S&P Global Core Battery Metals ETF Price Performance

Shares of ION stock traded down $1.05 on Tuesday, hitting $58.65. 2,261 shares of the stock traded hands, compared to its average volume of 9,333. The company has a market capitalization of $14.66 million, a PE ratio of 16.75 and a beta of 0.92. ProShares S&P Global Core Battery Metals ETF has a 1-year low of $27.11 and a 1-year high of $69.55. The company’s fifty day moving average is $61.28 and its 200 day moving average is $57.67.

About ProShares S&P Global Core Battery Metals ETF

The Proshares S&P Global Core Battery Metals ETF (ION) is an exchange-traded fund that is based on the S&P Global Core Battery Metals index. The fund tracks an index of companies from around the world that are engaged in the mining of base metals used to produce batteries. ION was launched on Nov 29, 2022 and is managed by ProShares.