ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 1,661 shares, a decrease of 75.1% from the July 30th total of 6,665 shares. Based on an average daily trading volume, of 2,236 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.8% of the company’s stock are sold short.
Hedge Funds Weigh In On 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 shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.
ProShares UltraShort Materials Stock Up 0.4%
Shares of NYSEARCA:SMN traded up $0.08 on Friday, reaching $18.53. 218 shares of the company’s stock were exchanged, compared to its average volume of 6,973. The business’s 50-day moving average is $19.60 and its two-hundred day moving average is $20.16. ProShares UltraShort Materials has a fifty-two week low of $17.93 and a fifty-two week high of $31.02.
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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