ProShares UltraShort Materials (NYSEARCA:SMN) Stock Short Interest Falls 47.9%

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 1,034 shares, a decline of 47.9% from the September 30th total of 1,986 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 2,339 shares, the short-interest ratio is presently 0.4 days.

ProShares UltraShort Materials Price Performance

NYSEARCA SMN traded down $0.14 on Friday, hitting $18.74. The stock had a trading volume of 1,692 shares, compared to its average volume of 6,029. ProShares UltraShort Materials has a 52-week low of $17.93 and a 52-week high of $31.02. The business’s fifty day moving average price is $20.07 and its 200 day moving average price is $20.34.

About ProShares UltraShort Materials

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.