ProShares UltraShort Materials (NYSEARCA:SMN) Shares Shorted: Short Interest Up 158.3% in September

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,986 shares, a growth of 158.3% from the September 15th total of 769 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 1,773 shares, the short-interest ratio is presently 1.1 days.

ProShares UltraShort Materials Price Performance

SMN traded down $0.01 during trading hours on Monday, hitting $21.20. 1,218 shares of the company’s stock were exchanged, compared to its average volume of 6,140. ProShares UltraShort Materials has a 12-month low of $17.93 and a 12-month high of $31.02. The firm has a 50 day moving average of $19.83 and a 200 day moving average of $20.14.

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.