ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) Trading 1.6% Higher – Still a Buy?

Shares of ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) were up 1.6% on Thursday . The company traded as high as $48.73 and last traded at $48.70. Approximately 892 shares changed hands during trading, a decline of 87% from the average session volume of 6,697 shares. The stock had previously closed at $47.95.

ProShares S&P Global Core Battery Metals ETF Price Performance

The firm has a market cap of $48.65 million, a price-to-earnings ratio of 16.75 and a beta of 1.02. The firm has a 50 day moving average price of $50.15 and a 200-day moving average price of $55.34.

Institutional Trading of ProShares S&P Global Core Battery Metals ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in ION. Moulton Wealth Management Inc. acquired a new position in ProShares S&P Global Core Battery Metals ETF during the 2nd quarter valued at about $1,149,000. Moran Wealth Management LLC acquired a new stake in shares of ProShares S&P Global Core Battery Metals ETF during the 1st quarter worth approximately $999,000. Finally, Citadel Advisors LLC acquired a new stake in shares of ProShares S&P Global Core Battery Metals ETF during the 2nd quarter worth approximately $296,000.

ProShares S&P Global Core Battery Metals ETF Company Profile

The Proshares S&P Global Core Battery Metals ETF (ION) is an exchange-traded fund that is based on the S&P Global Core Battery Metals index. The fund tracks an index of companies from around the world that are engaged in the mining of base metals used to produce batteries. ION was launched on Nov 29, 2022 and is managed by ProShares.