ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Update

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 14,242 shares, a decline of 34.9% from the February 12th total of 21,874 shares. Based on an average trading volume of 28,043 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are sold short. Approximately 1.0% of the company’s stock are sold short. Based on an average trading volume of 28,043 shares, the short-interest ratio is currently 0.5 days.

ProShares Ultra Materials Stock Performance

Shares of NYSEARCA:UYM traded down $0.56 during midday trading on Friday, hitting $28.26. 15,908 shares of the stock were exchanged, compared to its average volume of 30,165. The company has a market capitalization of $40.41 million, a PE ratio of 22.90 and a beta of 2.13. ProShares Ultra Materials has a 52-week low of $17.03 and a 52-week high of $34.54. The business’s fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $26.11.

Institutional Investors Weigh In On ProShares Ultra Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new stake in shares of ProShares Ultra Materials in the 4th quarter valued at approximately $44,000. EverSource Wealth Advisors LLC raised its position in ProShares Ultra Materials by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after acquiring an additional 450 shares in the last quarter. Bank of America Corp DE bought a new position in ProShares Ultra Materials during the second quarter valued at approximately $57,000. Allworth Financial LP acquired a new stake in ProShares Ultra Materials in the second quarter valued at approximately $66,000. Finally, Envestnet Asset Management Inc. bought a new stake in ProShares Ultra Materials in the second quarter worth approximately $383,000.

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.