Short Interest in ProShares UltraShort Materials (NYSEARCA:SMN) Drops By 88.5%

by · The Markets Daily

ProShares UltraShort Materials (NYSEARCA:SMN – Get Free Report) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 198 shares, a decline of 88.5% from the November 30th total of 1,716 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 2,335 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 2,335 shares, the short-interest ratio is currently 0.1 days. Currently, 0.3% of the shares of the company are short sold.

ProShares UltraShort Materials Price Performance

NYSEARCA:SMN traded down $0.19 during trading hours on Thursday, hitting $12.86. 1,333 shares of the company traded hands, compared to its average volume of 4,232. The firm has a 50-day moving average of $14.19 and a 200 day moving average of $13.89. ProShares UltraShort Materials has a twelve month low of $12.83 and a twelve month high of $21.31.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares UltraShort Materials stock. Susquehanna International Group LLP acquired a new position in shares of ProShares UltraShort Materials (NYSEARCA:SMN – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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.

About ProShares UltraShort Materials

(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.

Read More