ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 40,252 shares, an increase of 1,207.3% from the May 14th total of 3,079 shares. Currently, 26.8% of the shares of the company are sold short. Based on an average trading volume of 14,445 shares, the short-interest ratio is presently 2.8 days.
ProShares UltraShort Materials Trading Up 3.7%
NYSEARCA SMN traded up $0.78 during trading hours on Wednesday, hitting $21.55. 2,252 shares of the stock were exchanged, compared to its average volume of 8,915. ProShares UltraShort Materials has a 12-month low of $18.46 and a 12-month high of $31.02. The stock has a 50-day moving average of $20.37 and a 200 day moving average of $22.38.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new position in shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned approximately 18.35% of ProShares UltraShort Materials as of its most recent filing with the SEC.
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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