ProShares UltraShort Materials (NYSEARCA:SMN) Short Interest Update

by · The Markets Daily

ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the target of a significant growth in short interest during 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 daily trading volume, of 1,343 shares, the days-to-cover ratio is currently 2.7 days. Currently, 6.0% of the shares of the company are sold short. Currently, 6.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,343 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP bought a new stake in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,010 shares of the company’s stock, valued at approximately $150,000. Susquehanna International Group LLP owned approximately 18.35% of ProShares UltraShort Materials at the end of the most recent reporting period.

ProShares UltraShort Materials Trading Down 0.7%

SMN stock traded down $0.08 during midday trading on Monday, reaching $11.48. 1,891 shares of the company’s stock traded hands, compared to its average volume of 2,399. The company has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $13.69. ProShares UltraShort Materials has a 52 week low of $11.41 and a 52 week high of $21.31.

ProShares UltraShort Materials Company Profile

(Get Free Report)

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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