Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Increases By 90.8%

ProShares Ultra Materials (NYSEARCA:UYM) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 14,769 shares, a growth of 90.8% from the December 31st total of 7,740 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 26,024 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 26,024 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.1% of the company’s shares are sold short.

Institutional Trading of ProShares Ultra Materials

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of ProShares Ultra Materials by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after acquiring an additional 450 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of ProShares Ultra Materials during the 2nd quarter worth approximately $57,000. Allworth Financial LP acquired a new position in shares of ProShares Ultra Materials in the second quarter worth about $66,000. Finally, Envestnet Asset Management Inc. acquired a new position in ProShares Ultra Materials in the 2nd quarter worth about $383,000.

ProShares Ultra Materials Stock Performance

ProShares Ultra Materials stock traded down $0.89 during mid-day trading on Friday, hitting $28.73. The company’s stock had a trading volume of 59,624 shares, compared to its average volume of 24,821. The company has a 50 day moving average of $25.70 and a 200-day moving average of $24.63. ProShares Ultra Materials has a one year low of $17.03 and a one year high of $30.34. The stock has a market cap of $40.80 million, a PE ratio of 22.90 and a beta of 2.13.

About ProShares Ultra Materials

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.