ProShares UltraShort Materials (NYSEARCA:SMN) Sees Large Increase in Short Interest

ProShares UltraShort Materials (NYSEARCA:SMN) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 3,620 shares, a growth of 1,728.3% from the December 15th total of 198 shares. Based on an average trading volume of 1,343 shares, the days-to-cover ratio is presently 2.7 days. Currently, 6.0% of the company’s shares are sold short. Currently, 6.0% of the company’s shares are sold short. Based on an average trading volume of 1,343 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors 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 position in shares of ProShares UltraShort Materials (NYSEARCA:SMN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned about 18.35% of ProShares UltraShort Materials at the end of the most recent reporting period.

ProShares UltraShort Materials Trading Down 0.7%

ProShares UltraShort Materials stock opened at $11.48 on Tuesday. The business’s 50-day simple moving average is $13.74 and its 200 day simple moving average is $13.69. ProShares UltraShort Materials has a 12-month low of $11.41 and a 12-month high of $21.31.

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.