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

ProShares UltraShort Materials (NYSEARCA:SMN) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 1,986 shares, an increase of 158.3% from the September 15th total of 769 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,773 shares, the days-to-cover ratio is currently 1.1 days.

ProShares UltraShort Materials Stock Down 0.9%

Shares of SMN traded down $0.19 during midday trading on Tuesday, reaching $21.03. The company had a trading volume of 3,273 shares, compared to its average volume of 6,130. ProShares UltraShort Materials has a 1-year low of $17.93 and a 1-year high of $31.02. The firm has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $20.13.

ProShares UltraShort Materials Company Profile

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.