ProShares UltraShort Materials (NYSEARCA:SMN) Sees Significant Increase in Short Interest

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 1,986 shares, an increase of 158.3% from the September 15th total of 769 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,773 shares, the days-to-cover ratio is presently 1.1 days.

ProShares UltraShort Materials Price Performance

Shares of NYSEARCA SMN traded up $0.01 during trading on Wednesday, hitting $21.04. The company had a trading volume of 1,983 shares, compared to its average volume of 6,107. ProShares UltraShort Materials has a 52 week low of $17.93 and a 52 week high of $31.02. The business’s 50-day moving average is $19.88 and its 200 day moving average is $20.13.

ProShares UltraShort Materials Company Profile

ProShares UltraShort Basic Materials (the Fund) seeks daily investment results that correspond to twice the inverse 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.