ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 29,221 shares, a growth of 534.3% from the July 30th total of 4,607 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 25,381 shares, the days-to-cover ratio is presently 1.2 days.
ProShares Ultra Materials Stock Performance
Shares of NYSEARCA UYM opened at $32.58 on Wednesday. The stock has a market cap of $41.70 million, a price-to-earnings ratio of 22.90 and a beta of 1.87. ProShares Ultra Materials has a 1-year low of $21.34 and a 1-year high of $34.54. The stock’s 50-day moving average is $30.47 and its 200 day moving average is $30.50.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Godfrey Financial Associates Inc. bought a new stake in shares of ProShares Ultra Materials in the 4th quarter worth approximately $44,000. Bank of America Corp DE bought a new position in shares of ProShares Ultra Materials during the 2nd quarter valued at $57,000. Finally, EverSource Wealth Advisors LLC raised its position in ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 450 shares during the period.
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.
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