ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 4,607 shares, an increase of 67.3% from the July 15th total of 2,753 shares. Based on an average trading volume of 6,459 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are short sold.
ProShares Ultra Materials Stock Performance
UYM traded down $0.36 during midday trading on Monday, reaching $30.98. 14,411 shares of the company were exchanged, compared to its average volume of 17,201. The company’s fifty day moving average price is $30.28 and its 200 day moving average price is $30.41. The company has a market cap of $39.65 million, a price-to-earnings ratio of 22.90 and a beta of 1.87. ProShares Ultra Materials has a one year low of $21.34 and a one year high of $34.54.
Institutional Investors Weigh In On ProShares Ultra Materials
Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new stake in ProShares Ultra Materials in the 2nd quarter valued at $57,000. EverSource Wealth Advisors LLC lifted its stake in ProShares Ultra Materials by 32.1% during the 2nd 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 in the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new position in ProShares Ultra Materials during the 4th quarter worth $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.
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