ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Update

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 14,242 shares, a drop of 34.9% from the February 12th total of 21,874 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 28,043 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 28,043 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are sold short.

ProShares Ultra Materials Stock Performance

ProShares Ultra Materials stock traded down $0.56 during midday trading on Friday, reaching $28.26. The stock had a trading volume of 15,908 shares, compared to its average volume of 30,165. The stock has a market capitalization of $40.41 million, a P/E ratio of 22.90 and a beta of 2.13. The firm’s fifty day simple moving average is $30.27 and its 200-day simple moving average is $26.10. ProShares Ultra Materials has a 1-year low of $17.03 and a 1-year high of $34.54.

Institutional Trading of ProShares Ultra Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in UYM. Envestnet Asset Management Inc. acquired a new position in ProShares Ultra Materials during the second quarter worth $383,000. Allworth Financial LP acquired a new stake in ProShares Ultra Materials in the 2nd quarter valued at $66,000. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 450 shares during the last quarter. Bank of America Corp DE bought a new stake in ProShares Ultra Materials during the 2nd quarter worth about $57,000. Finally, Godfrey Financial Associates Inc. bought a new stake in ProShares Ultra Materials during the 4th quarter worth about $44,000.

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.