ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 4,097 shares, a drop of 86.0% from the August 15th total of 29,221 shares. Based on an average daily volume of 14,158 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the shares of the company are short sold.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of ProShares Ultra Materials by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 450 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of ProShares Ultra Materials during the 4th quarter worth about $44,000. Finally, Bank of America Corp DE bought a new stake in ProShares Ultra Materials during the 2nd quarter valued at approximately $57,000.
ProShares Ultra Materials Stock Up 0.4%
NYSEARCA:UYM opened at $29.27 on Friday. ProShares Ultra Materials has a 12 month low of $21.34 and a 12 month high of $34.54. The firm has a market cap of $37.47 million, a price-to-earnings ratio of 22.90 and a beta of 1.88. The company’s 50 day moving average is $30.61 and its 200-day moving average is $30.37.
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.
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