ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) Sees Significant Drop in Short Interest

ProShares S&P Global Core Battery Metals ETF (NYSEARCA:ION) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,015 shares, a drop of 37.2% from the June 30th total of 1,616 shares. Based on an average daily volume of 1,895 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in ProShares S&P Global Core Battery Metals ETF in the 2nd quarter valued at $271,000. Moran Wealth Management LLC acquired a new stake in ProShares S&P Global Core Battery Metals ETF in the 1st quarter valued at $999,000. Finally, Moulton Wealth Management Inc. purchased a new stake in shares of ProShares S&P Global Core Battery Metals ETF during the 2nd quarter valued at about $1,149,000.

ProShares S&P Global Core Battery Metals ETF Trading Down 0.3%

Shares of NYSEARCA:ION traded down $0.13 during trading on Friday, hitting $47.37. 294 shares of the stock were exchanged, compared to its average volume of 7,924. The company has a fifty day moving average price of $52.47 and a two-hundred day moving average price of $57.49. The company has a market cap of $11.84 million, a PE ratio of 16.75 and a beta of 0.99. ProShares S&P Global Core Battery Metals ETF has a 12-month low of $30.63 and a 12-month high of $69.55.

About ProShares S&P Global Core Battery Metals ETF

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.