Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Decreases By 38.2%
by Amy Steele · The Cerbat GemProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,333 shares, a decrease of 38.2% from the March 15th total of 2,156 shares. Based on an average daily trading volume, of 27,972 shares, the short-interest ratio is currently 0.0 days. Approximately 0.4% of the company’s shares are short sold.
Hedge Funds Weigh In On ProShares UltraShort Materials
A hedge fund recently bought a new stake in ProShares UltraShort Materials stock. Susquehanna International Group LLP purchased a new stake in ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.
ProShares UltraShort Materials Stock Performance
Shares of ProShares UltraShort Materials stock traded up $0.09 during trading hours on Tuesday, hitting $9.84. The company’s stock had a trading volume of 4,556 shares, compared to its average volume of 20,084. ProShares UltraShort Materials has a twelve month low of $9.23 and a twelve month high of $17.98. The firm has a fifty day moving average of $10.34 and a 200-day moving average of $12.29.
ProShares UltraShort Materials Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a $0.026 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, March 25th.
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.