Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Decreases By 94.7%

ProShares UltraShort Materials (NYSEARCA:SMN) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 2,127 shares, a decrease of 94.7% from the May 31st total of 40,252 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 7,860 shares, the short-interest ratio is currently 0.3 days.

ProShares UltraShort Materials Price Performance

NYSEARCA:SMN traded down $0.50 during mid-day trading on Thursday, reaching $19.49. The stock had a trading volume of 9,536 shares, compared to its average volume of 8,547. ProShares UltraShort Materials has a twelve month low of $18.46 and a twelve month high of $31.02. The business has a 50 day simple moving average of $20.19 and a 200 day simple moving average of $21.66.

Hedge Funds Weigh In On ProShares UltraShort Materials

An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in ProShares UltraShort Materials (NYSEARCA:SMN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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.

About ProShares UltraShort Materials

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.