ProShares Ultra Materials (NYSEARCA:UYM) Short Interest Update

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 4,097 shares, a decrease of 86.0% from the August 15th total of 29,221 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 14,158 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On ProShares Ultra Materials

Institutional investors have recently modified their holdings of the business. 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 buying an additional 450 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of ProShares Ultra Materials during the 4th quarter valued at about $44,000. Finally, Bank of America Corp DE purchased a new stake in shares of ProShares Ultra Materials during the 2nd quarter valued at about $57,000.

ProShares Ultra Materials Trading Up 0.9%

UYM traded up $0.25 during trading on Friday, hitting $29.39. 660 shares of the company’s stock traded hands, compared to its average volume of 16,624. The stock has a market capitalization of $37.62 million, a price-to-earnings ratio of 22.90 and a beta of 1.88. The company’s 50 day simple moving average is $30.65 and its two-hundred day simple moving average is $30.38. ProShares Ultra Materials has a 12-month low of $21.34 and a 12-month high of $34.54.

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.