Short Interest in ProShares Ultra Materials (NYSEARCA:UYM) Declines By 63.8%

by · The Markets Daily

ProShares Ultra Materials (NYSEARCA:UYM – Get Free Report) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 7,965 shares, a drop of 63.8% from the November 30th total of 21,996 shares. Based on an average daily trading volume, of 22,606 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.6% of the company’s stock are short sold. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 22,606 shares, the days-to-cover ratio is presently 0.4 days.

ProShares Ultra Materials Price Performance

NYSEARCA:UYM traded up $0.02 during trading hours on Friday, reaching $25.08. 3,961 shares of the stock were exchanged, compared to its average volume of 10,710. ProShares Ultra Materials has a twelve month low of $17.03 and a twelve month high of $26.36. The firm has a 50 day moving average of $23.20 and a 200 day moving average of $24.07. The stock has a market cap of $34.36 million, a PE ratio of 22.90 and a beta of 2.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UYM. Envestnet Asset Management Inc. bought a new position in ProShares Ultra Materials in the second quarter valued at $383,000. Allworth Financial LP acquired a new position in shares of ProShares Ultra Materials during the 2nd quarter worth about $66,000. EverSource Wealth Advisors LLC grew its holdings in shares of ProShares Ultra Materials by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,850 shares of the company’s stock valued at $44,000 after acquiring an additional 450 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of ProShares Ultra Materials in the 2nd quarter valued at about $57,000.

ProShares Ultra Materials Company Profile

(Get Free Report)

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.

Read More