ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 3,086 shares, a decrease of 56.0% from the May 14th total of 7,013 shares. Based on an average daily volume of 9,593 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company’s stock are short sold.
ProShares Ultra Materials Price Performance
NYSEARCA UYM traded up $1.13 during trading hours on Friday, hitting $31.31. The company had a trading volume of 19,794 shares, compared to its average volume of 19,082. ProShares Ultra Materials has a fifty-two week low of $21.34 and a fifty-two week high of $34.54. The company has a market capitalization of $42.27 million, a price-to-earnings ratio of 22.90 and a beta of 1.86. The firm’s 50 day moving average is $30.45 and its 200 day moving average is $28.86.
Institutional Trading of ProShares Ultra Materials
Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after purchasing an additional 450 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in ProShares Ultra Materials in the 4th quarter valued at about $44,000. Finally, Bank of America Corp DE acquired a new stake in ProShares Ultra Materials during the 2nd quarter valued at approximately $57,000.
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.
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