ProShares Ultra Materials (NYSEARCA:UYM) Stock Short Interest Jumps 176.4%

ProShares Ultra Materials (NYSEARCA:UYM) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 7,656 shares, a growth of 176.4% from the October 15th total of 2,770 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 3,918 shares, the short-interest ratio is presently 2.0 days.

ProShares Ultra Materials Stock Down 2.5%

Shares of NYSEARCA:UYM opened at $30.62 on Friday. The company has a market cap of $38.58 million, a P/E ratio of 22.90 and a beta of 1.83. The business has a fifty day simple moving average of $29.28 and a 200-day simple moving average of $30.20. ProShares Ultra Materials has a 52 week low of $21.34 and a 52 week high of $34.54.

Institutional Trading of ProShares Ultra Materials

A hedge fund recently bought a new position in ProShares Ultra Materials stock. Toth Financial Advisory Corp acquired a new position in shares of ProShares Ultra Materials (NYSEARCA:UYM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,200 shares of the company’s stock, valued at approximately $32,000. Toth Financial Advisory Corp owned 0.10% of ProShares Ultra Materials as of its most recent SEC filing.

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.