Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Drops By 32.2%
by Mitch Edgeman · The Markets DailyProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 8,513 shares, a drop of 32.2% from the March 15th total of 12,555 shares. Based on an average trading volume of 8,827 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.6% of the company’s shares are sold short.
ProShares Ultra Materials Stock Performance
UYM traded down $0.17 on Tuesday, hitting $31.67. 19,654 shares of the company were exchanged, compared to its average volume of 24,229. The firm has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $26.68. ProShares Ultra Materials has a 12 month low of $19.50 and a 12 month high of $34.54. The stock has a market capitalization of $44.02 million, a PE ratio of 22.90 and a beta of 2.00.
ProShares Ultra Materials Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a $0.0697 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.28 annualized dividend and a yield of 0.9%.
Institutional Investors Weigh In On ProShares Ultra Materials
Institutional investors and hedge funds have recently bought and sold shares of the business. Godfrey Financial Associates Inc. purchased a new stake in ProShares Ultra Materials in the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC lifted its holdings 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 period. Finally, Bank of America Corp DE purchased a new stake in ProShares Ultra Materials in the 2nd quarter worth approximately $57,000.
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.