ProShares Ultra Materials (NYSEARCA:UYM) Sees Large Decline in Short Interest

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 4,208 shares, a drop of 44.0% from the June 15th total of 7,512 shares. Based on an average daily trading volume, of 9,590 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On ProShares Ultra Materials

Large investors have recently made changes to their positions in the business. Godfrey Financial Associates Inc. purchased a new stake in shares of ProShares Ultra Materials during the 4th quarter valued at $44,000. EverSource Wealth Advisors LLC grew its stake in 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 buying an additional 450 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in ProShares Ultra Materials during the 2nd quarter worth $57,000.

ProShares Ultra Materials Stock Down 1.5%

NYSEARCA UYM opened at $29.20 on Friday. The firm has a market cap of $37.38 million, a PE ratio of 22.90 and a beta of 1.87. The company has a 50 day moving average price of $30.08 and a 200 day moving average price of $29.93. ProShares Ultra Materials has a 52 week low of $21.34 and a 52 week high of $34.54.

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.