ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 6,167 shares, a growth of 189.9% from the June 15th total of 2,127 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average trading volume of 4,818 shares, the days-to-cover ratio is currently 1.3 days.
Institutional Investors Weigh In On ProShares UltraShort Materials
A hedge fund recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
ProShares UltraShort Materials Stock Performance
SMN stock traded up $0.03 during midday trading on Wednesday, reaching $20.41. The company’s stock had a trading volume of 3,412 shares, compared to its average volume of 8,137. ProShares UltraShort Materials has a 1 year low of $18.46 and a 1 year high of $31.02. The stock has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $21.01.
ProShares UltraShort Materials Company Profile
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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