ProShares UltraShort Materials (NYSEARCA:SMN) Shares Shorted: Short Interest Down 47.9% in October

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 1,034 shares, a drop of 47.9% from the September 30th total of 1,986 shares. Based on an average daily trading volume, of 2,339 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the shares of the stock are sold short.

ProShares UltraShort Materials Price Performance

ProShares UltraShort Materials stock traded down $0.14 during trading on Friday, reaching $18.74. The company had a trading volume of 1,692 shares, compared to its average volume of 6,029. The firm’s 50-day simple moving average is $20.07 and its 200 day simple moving average is $20.34. ProShares UltraShort Materials has a 1-year low of $17.93 and a 1-year high of $31.02.

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.