ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 40,252 shares, an increase of 1,207.3% from the May 14th total of 3,079 shares. Based on an average daily trading volume, of 14,445 shares, the days-to-cover ratio is currently 2.8 days. Currently, 26.8% of the company’s shares are short sold.
ProShares UltraShort Materials Price Performance
NYSEARCA:SMN traded down $0.45 during mid-day trading on Thursday, reaching $21.11. The company’s stock had a trading volume of 179 shares, compared to its average volume of 8,836. ProShares UltraShort Materials has a 12-month low of $18.46 and a 12-month high of $31.02. The firm’s fifty day moving average price is $20.36 and its two-hundred day moving average price is $22.32.
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 position in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned approximately 18.35% of ProShares UltraShort Materials as of its most recent filing with the Securities and Exchange Commission (SEC).
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.
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