ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Down 34.6% in July

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 2,753 shares, a decrease of 34.6% from the June 30th total of 4,208 shares. Based on an average daily volume of 9,156 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

ProShares Ultra Materials Stock Performance

UYM traded down $1.62 during trading on Friday, reaching $28.83. The company had a trading volume of 1,579 shares, compared to its average volume of 16,577. The firm’s 50-day simple moving average is $30.05 and its 200 day simple moving average is $30.21. The company has a market cap of $36.90 million, a price-to-earnings ratio of 22.90 and a beta of 1.87. ProShares Ultra Materials has a 12-month low of $21.34 and a 12-month high of $34.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of ProShares Ultra Materials in the second quarter worth approximately $57,000. EverSource Wealth Advisors LLC boosted 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 during the period. Finally, Godfrey Financial Associates Inc. acquired a new position in ProShares Ultra Materials in the 4th quarter worth approximately $44,000.

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.