ProShares UltraShort Materials (NYSEARCA:SMN) Shares Scheduled to Reverse Split on Thursday, May 28th

ProShares UltraShort Materials (NYSEARCA:SMN)’s stock is scheduled to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

ProShares UltraShort Materials Trading Up 0.2%

Shares of NYSEARCA SMN traded up $0.02 on Tuesday, reaching $9.77. 2,437 shares of the company traded hands, compared to its average volume of 16,712. ProShares UltraShort Materials has a fifty-two week low of $9.23 and a fifty-two week high of $15.51. The company has a 50 day moving average of $10.43 and a 200 day moving average of $11.79.

Institutional Investors Weigh In On ProShares UltraShort Materials

An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new position in ProShares UltraShort Materials (NYSEARCA:SMN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 reporting period.

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.