ProShares UltraShort Basic Materials (NYSEARCA:SMN) Shares Pass Above 50 Day Moving Average of $28.15

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Shares of ProShares UltraShort Basic Materials (NYSEARCA:SMN) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $28.15 and traded as high as $25.78. ProShares UltraShort Basic Materials shares last traded at $25.78, with a volume of 100 shares traded.

The company’s 50-day moving average is $28.17 and its two-hundred day moving average is $27.98.

An institutional investor recently bought a new position in ProShares UltraShort Basic Materials stock. Jane Street Group LLC purchased a new stake in ProShares UltraShort Basic Materials (NYSEARCA:SMN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,372 shares of the company’s stock, valued at approximately $628,000. Jane Street Group LLC owned approximately 9.03% of ProShares UltraShort Basic Materials as of its most recent filing with the Securities and Exchange Commission.

ProShares UltraShort Basic Materials Company Profile (NYSEARCA:SMN)

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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