Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Increases By 90.8%

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 14,769 shares, an increase of 90.8% from the December 31st total of 7,740 shares. Based on an average daily trading volume, of 26,024 shares, the short-interest ratio is currently 0.6 days. Approximately 1.1% of the company’s shares are short sold. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 26,024 shares, the short-interest ratio is currently 0.6 days.

ProShares Ultra Materials Price Performance

Shares of NYSEARCA:UYM traded down $0.89 during mid-day trading on Friday, reaching $28.73. 59,624 shares of the company were exchanged, compared to its average volume of 24,821. The firm has a market cap of $40.80 million, a price-to-earnings ratio of 22.90 and a beta of 2.13. ProShares Ultra Materials has a 1 year low of $17.03 and a 1 year high of $30.34. The firm’s 50-day simple moving average is $25.70 and its 200 day simple moving average is $24.64.

Institutional Investors Weigh In On ProShares Ultra Materials

Several large investors have recently modified their holdings of UYM. Envestnet Asset Management Inc. acquired a new position in shares of ProShares Ultra Materials in the second quarter valued at approximately $383,000. Allworth Financial LP acquired a new stake in ProShares Ultra Materials in the 2nd quarter worth about $66,000. Bank of America Corp DE purchased a new position in ProShares Ultra Materials during the second quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC grew its position 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 valued at $44,000 after acquiring an additional 450 shares during the period.

ProShares Ultra Materials Company Profile

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.