ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 6,167 shares, an increase of 189.9% from the June 15th total of 2,127 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 4,818 shares, the days-to-cover ratio is presently 1.3 days.
Institutional Trading of ProShares UltraShort Materials
An institutional investor recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new stake in shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.
ProShares UltraShort Materials Trading Up 1.6%
Shares of NYSEARCA SMN traded up $0.33 during mid-day trading on Monday, hitting $20.48. 951 shares of the stock traded hands, compared to its average volume of 8,173. The stock has a fifty day moving average price of $20.20 and a 200-day moving average price of $21.08. ProShares UltraShort Materials has a 52 week low of $18.46 and a 52 week high of $31.02.
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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