ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 44.0% in June

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 4,208 shares, a drop of 44.0% from the June 15th total of 7,512 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 9,590 shares, the short-interest ratio is presently 0.4 days.

ProShares Ultra Materials Stock Up 1.5%

Shares of NYSEARCA UYM traded up $0.44 during trading on Thursday, reaching $29.64. The company had a trading volume of 4,584 shares, compared to its average volume of 17,487. The company’s fifty day moving average price is $30.13 and its 200-day moving average price is $29.90. ProShares Ultra Materials has a 12 month low of $21.34 and a 12 month high of $34.54. The stock has a market cap of $37.94 million, a P/E ratio of 22.90 and a beta of 1.87.

Institutional Investors Weigh In On ProShares Ultra Materials

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in ProShares Ultra Materials by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after buying an additional 450 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in ProShares Ultra Materials in the fourth quarter valued at $44,000. Finally, Bank of America Corp DE bought a new stake in ProShares Ultra Materials during the second quarter valued at $57,000.

About ProShares Ultra Materials

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.