ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 1,034 shares, a decline of 47.9% from the September 30th total of 1,986 shares. Based on an average daily volume of 2,339 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.5% of the shares of the company are short sold.
ProShares UltraShort Materials Stock Performance
SMN traded down $0.72 during trading on Monday, reaching $18.02. 1,730 shares of the company were exchanged, compared to its average volume of 6,008. ProShares UltraShort Materials has a 12-month low of $17.90 and a 12-month high of $31.02. The company’s 50-day moving average is $20.07 and its two-hundred day moving average is $20.34.
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.
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