ProShares UltraShort Materials (NYSEARCA:SMN) Short Interest Update

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 2,310 shares, a drop of 39.8% from the January 15th total of 3,839 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily volume of 10,224 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 10,224 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.9% of the company’s stock are sold short.

ProShares UltraShort Materials Stock Down 1.9%

Shares of SMN stock traded down $0.18 during trading on Friday, reaching $9.47. 11,345 shares of the company’s stock were exchanged, compared to its average volume of 13,191. ProShares UltraShort Materials has a twelve month low of $9.23 and a twelve month high of $21.31. The firm’s fifty day moving average price is $11.99 and its 200-day moving average price is $13.25.

Institutional Trading of ProShares UltraShort Materials

An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new position in shares of ProShares UltraShort Materials (NYSEARCA:SMN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned 18.35% of ProShares UltraShort Materials at the end of the most recent reporting period.

ProShares UltraShort Materials Company Profile

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.