ProShares UltraShort Materials (NYSEARCA:SMN) Short Interest Up 90.0% in February

ProShares UltraShort Materials (NYSEARCA:SMN) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 4,388 shares, a growth of 90.0% from the January 29th total of 2,310 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily volume of 25,839 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 25,839 shares, the days-to-cover ratio is currently 0.2 days. Currently, 5.5% of the shares of the stock are sold short.

ProShares UltraShort Materials Stock Performance

ProShares UltraShort Materials stock opened at $9.46 on Friday. ProShares UltraShort Materials has a fifty-two week low of $9.23 and a fifty-two week high of $21.31. The firm’s fifty day moving average price is $11.06 and its 200-day moving average price is $12.91.

Institutional Investors Weigh In On ProShares UltraShort Materials

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in shares of ProShares UltraShort Materials (NYSEARCA:SMN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned 18.35% of ProShares UltraShort Materials at the end of the most recent reporting period.

About ProShares UltraShort Materials

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.