ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Update

ProShares Ultra Materials (NYSEARCA:UYM) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 4,097 shares, a drop of 86.0% from the August 15th total of 29,221 shares. Based on an average daily volume of 14,158 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.3% of the shares of the company are short sold.

ProShares Ultra Materials Stock Up 0.9%

UYM traded up $0.25 during mid-day trading on Friday, reaching $29.39. 660 shares of the company traded hands, compared to its average volume of 16,624. The stock has a market capitalization of $37.62 million, a P/E ratio of 22.90 and a beta of 1.88. The company’s fifty day moving average price is $30.65 and its 200-day moving average price is $30.38. ProShares Ultra Materials has a 52-week low of $21.34 and a 52-week high of $34.54.

Hedge Funds Weigh In On ProShares Ultra Materials

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

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.