ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 6,167 shares, a growth of 189.9% from the June 15th total of 2,127 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 4,818 shares, the short-interest ratio is currently 1.3 days.
Institutional Investors Weigh In On ProShares UltraShort Materials
A hedge fund recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP acquired a new position in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned 18.35% of ProShares UltraShort Materials as of its most recent filing with the Securities and Exchange Commission.
ProShares UltraShort Materials Stock Up 1.6%
Shares of ProShares UltraShort Materials stock traded up $0.33 on Monday, hitting $20.48. The stock had a trading volume of 951 shares, compared to its average volume of 8,173. ProShares UltraShort Materials has a one year low of $18.46 and a one year high of $31.02. The stock’s 50-day simple moving average is $20.20 and its two-hundred day simple moving average is $21.08.
About ProShares UltraShort Materials
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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