ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 29,221 shares, an increase of 534.3% from the July 30th total of 4,607 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average trading volume of 25,381 shares, the short-interest ratio is currently 1.2 days.
Hedge Funds Weigh In On ProShares Ultra Materials
A number of institutional investors and hedge funds have recently added to or reduced their stakes in UYM. EverSource Wealth Advisors LLC increased its stake in shares of ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after acquiring an additional 450 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in shares of ProShares Ultra Materials during the 4th quarter worth approximately $44,000. Finally, Bank of America Corp DE purchased a new stake in shares of ProShares Ultra Materials during the 2nd quarter valued at approximately $57,000.
ProShares Ultra Materials Stock Down 1.2%
UYM traded down $0.38 during trading on Thursday, reaching $32.27. The company’s stock had a trading volume of 7,325 shares, compared to its average volume of 17,061. The company has a market cap of $41.31 million, a price-to-earnings ratio of 22.90 and a beta of 1.87. The firm has a fifty day simple moving average of $30.51 and a two-hundred day simple moving average of $30.52. ProShares Ultra Materials has a 1 year low of $21.34 and a 1 year high of $34.54.
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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