ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 4,208 shares, a decline of 44.0% from the June 15th total of 7,512 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 9,590 shares, the days-to-cover ratio is presently 0.4 days.
Hedge Funds Weigh In On ProShares Ultra Materials
A number of institutional investors and hedge funds have recently modified their holdings of UYM. EverSource Wealth Advisors LLC grew its position in shares of ProShares Ultra Materials by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after buying an additional 450 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of ProShares Ultra Materials during the 4th quarter valued at $44,000. Finally, Bank of America Corp DE bought a new position in ProShares Ultra Materials during the second quarter worth $57,000.
ProShares Ultra Materials Trading Up 1.5%
NYSEARCA UYM traded up $0.44 during trading hours on Thursday, hitting $29.64. 4,584 shares of the company’s stock were exchanged, compared to its average volume of 17,487. The stock has a 50-day simple moving average of $30.13 and a 200 day simple moving average of $29.90. ProShares Ultra Materials has a 1-year low of $21.34 and a 1-year high of $34.54. The firm has a market cap of $37.94 million, a price-to-earnings ratio of 22.90 and a beta of 1.87.
ProShares Ultra Materials Company Profile
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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