Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Declines By 63.8%

ProShares Ultra Materials (NYSEARCA:UYM) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 7,965 shares, a decrease of 63.8% from the November 30th total of 21,996 shares. Based on an average daily volume of 22,606 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 22,606 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of ProShares Ultra Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new position in shares of ProShares Ultra Materials during the 2nd quarter worth approximately $66,000. Envestnet Asset Management Inc. acquired a new stake in shares of ProShares Ultra Materials in the second quarter valued at approximately $383,000. Bank of America Corp DE bought a new stake in shares of ProShares Ultra Materials in the second quarter valued at 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 worth $44,000 after buying an additional 450 shares in the last quarter.

ProShares Ultra Materials Stock Performance

NYSEARCA:UYM traded up $0.02 during mid-day trading on Friday, hitting $25.08. 3,961 shares of the stock were exchanged, compared to its average volume of 10,710. The stock has a market capitalization of $34.36 million, a price-to-earnings ratio of 22.90 and a beta of 2.13. The firm’s 50-day simple moving average is $23.20 and its 200 day simple moving average is $24.07. ProShares Ultra Materials has a fifty-two week low of $17.03 and a fifty-two week high of $26.36.

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.