ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 3,086 shares, a decrease of 56.0% from the May 14th total of 7,013 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 9,593 shares, the short-interest ratio is presently 0.3 days.
Hedge Funds Weigh In On ProShares Ultra Materials
Several hedge funds have recently modified their holdings of UYM. EverSource Wealth Advisors LLC lifted its stake in ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 450 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of ProShares Ultra Materials in the fourth quarter worth about $44,000. Finally, Bank of America Corp DE bought a new position in ProShares Ultra Materials during the second quarter valued at approximately $57,000.
ProShares Ultra Materials Trading Up 1.3%
UYM traded up $0.40 on Monday, hitting $31.71. 11,457 shares of the company’s stock traded hands, compared to its average volume of 19,004. The company’s 50 day simple moving average is $30.45 and its 200-day simple moving average is $28.86. The firm has a market cap of $42.80 million, a price-to-earnings ratio of 22.90 and a beta of 1.86. ProShares Ultra Materials has a one year low of $21.34 and a one year high of $34.54.
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.
Further Reading
- Five stocks we like better than ProShares Ultra Materials
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
Receive News & Ratings for ProShares Ultra Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares Ultra Materials and related companies with MarketBeat.com's FREE daily email newsletter.
