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

ProShares UltraShort Materials (NYSEARCA:SMN) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 5,626 shares, an increase of 322.1% from the March 31st total of 1,333 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,858 shares, the short-interest ratio is currently 0.2 days.

ProShares UltraShort Materials Price Performance

NYSEARCA SMN opened at $9.87 on Monday. The company has a 50 day moving average of $10.35 and a 200-day moving average of $12.08. ProShares UltraShort Materials has a 1-year low of $9.23 and a 1-year high of $16.50.

Institutional Trading of 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 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned about 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.