ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 2,127 shares, a decline of 94.7% from the May 31st total of 40,252 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 7,860 shares, the short-interest ratio is currently 0.3 days.
ProShares UltraShort Materials Stock Performance
Shares of ProShares UltraShort Materials stock traded up $0.26 on Friday, hitting $19.75. The company had a trading volume of 1,424 shares, compared to its average volume of 8,488. ProShares UltraShort Materials has a 1 year low of $18.46 and a 1 year high of $31.02. The stock has a 50 day moving average of $20.19 and a 200-day moving average of $21.66.
Institutional Investors Weigh In On ProShares UltraShort Materials
A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP acquired a new position in shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned about 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.
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