ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 32.2% in March

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totaling 8,513 shares, a decrease of 32.2% from the March 15th total of 12,555 shares. Based on an average daily volume of 8,827 shares, the short-interest ratio is presently 1.0 days. Currently, 0.6% of the shares of the company are short sold.

ProShares Ultra Materials Trading Up 1.5%

Shares of NYSEARCA:UYM traded up $0.47 on Thursday, reaching $31.26. 12,258 shares of the company’s stock were exchanged, compared to its average volume of 24,306. The company has a fifty day moving average of $30.56 and a 200-day moving average of $26.77. ProShares Ultra Materials has a twelve month low of $19.50 and a twelve month high of $34.54. The company has a market capitalization of $43.13 million, a price-to-earnings ratio of 22.90 and a beta of 2.00.

ProShares Ultra Materials Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were given a dividend of $0.0697 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of ProShares Ultra Materials by 32.1% during 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. Godfrey Financial Associates Inc. acquired a new stake in shares of ProShares Ultra Materials during the 4th quarter worth approximately $44,000. Finally, Bank of America Corp DE acquired a new stake in shares of ProShares Ultra Materials during the 2nd quarter worth approximately $57,000.

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.