ProShares UltraShort Materials (NYSEARCA:SMN) Shares Shorted: Short Interest Down 57.7% in September

ProShares UltraShort Materials (NYSEARCA:SMN) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 769 shares, a decline of 57.7% from the August 31st total of 1,820 shares. Based on an average trading volume of 1,257 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the shares of the stock are short sold.

ProShares UltraShort Materials Trading Up 1.4%

NYSEARCA SMN traded up $0.30 during trading hours on Monday, reaching $21.14. 3,345 shares of the stock traded hands, compared to its average volume of 6,357. The stock has a 50 day simple moving average of $19.57 and a two-hundred day simple moving average of $20.23. ProShares UltraShort Materials has a 1 year low of $17.93 and a 1 year 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.