ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) Sees Large Decline in Short Interest

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 15th, there was short interest totaling 4,964 shares, a decrease of 80.5% from the April 30th total of 25,468 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 7,769 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On ProShares S&P Global Core Battery Metals ETF

A hedge fund recently bought a new stake in ProShares S&P Global Core Battery Metals ETF stock. Jane Street Group LLC purchased a new position in ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,341 shares of the company’s stock, valued at approximately $271,000. Jane Street Group LLC owned approximately 11.68% of ProShares S&P Global Core Battery Metals ETF at the end of the most recent quarter.

ProShares S&P Global Core Battery Metals ETF Stock Performance

NYSEARCA ION traded down $0.39 during trading hours on Friday, hitting $60.28. The company had a trading volume of 2,446 shares, compared to its average volume of 10,042. ProShares S&P Global Core Battery Metals ETF has a 52 week low of $26.72 and a 52 week high of $69.55. The firm has a 50 day simple moving average of $60.53 and a 200 day simple moving average of $56.65. The firm has a market capitalization of $15.07 million, a price-to-earnings ratio of 16.75 and a beta of 0.97.

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.