ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Up 90.8% in January

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 14,769 shares, an increase of 90.8% from the December 31st total of 7,740 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 26,024 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 26,024 shares, the short-interest ratio is presently 0.6 days. Approximately 1.1% of the company’s stock are short sold.

ProShares Ultra Materials Price Performance

UYM traded down $0.89 during trading on Friday, hitting $28.73. The company had a trading volume of 59,624 shares, compared to its average volume of 24,821. ProShares Ultra Materials has a 1-year low of $17.03 and a 1-year high of $30.34. The company has a market cap of $40.80 million, a PE ratio of 22.90 and a beta of 2.13. The business has a 50-day moving average of $25.70 and a 200-day moving average of $24.63.

Hedge Funds Weigh In On ProShares Ultra Materials

Several large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new position in ProShares Ultra Materials in the second quarter worth about $383,000. Allworth Financial LP bought a new position in ProShares Ultra Materials during the 2nd quarter worth approximately $66,000. Bank of America Corp DE acquired a new position in shares of ProShares Ultra Materials in the 2nd quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC grew its position 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 worth $44,000 after acquiring an additional 450 shares in the last quarter.

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.