ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Update

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 7,512 shares, an increase of 143.4% from the May 31st total of 3,086 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 10,033 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On ProShares Ultra Materials

A number of hedge funds have recently bought and sold shares of UYM. EverSource Wealth Advisors LLC grew its position in shares of ProShares Ultra Materials by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after buying an additional 450 shares in the last quarter. Bank of America Corp DE acquired a new stake in ProShares Ultra Materials in the second quarter valued at approximately $57,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in ProShares Ultra Materials in the fourth quarter valued at approximately $44,000.

ProShares Ultra Materials Trading Up 1.6%

NYSEARCA:UYM traded up $0.49 during midday trading on Wednesday, reaching $30.19. The company had a trading volume of 3,629 shares, compared to its average volume of 18,155. ProShares Ultra Materials has a 12-month low of $21.34 and a 12-month high of $34.54. The firm has a market capitalization of $40.76 million, a price-to-earnings ratio of 22.90 and a beta of 1.86. The stock’s fifty day simple moving average is $30.42 and its 200-day simple moving average is $29.48.

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.