ProShares Ultra Basic Materials (NYSEARCA:UYM) Stock Price Up 2.4%

ProShares Ultra Basic Materials (NYSEARCA:UYM)’s share price were up 2.4% on Wednesday . The company traded as high as $58.63 and last traded at $58.63, approximately 120 shares were traded during mid-day trading. A decline of 98% from the average daily volume of 6,855 shares. The stock had previously closed at $57.24.

The business’s fifty day simple moving average is $57.64 and its two-hundred day simple moving average is $55.71.

A hedge fund recently bought a new stake in ProShares Ultra Basic Materials stock. Envestnet Asset Management Inc. purchased a new stake in ProShares Ultra Basic Materials (NYSEARCA:UYM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,843 shares of the company’s stock, valued at approximately $468,000. Envestnet Asset Management Inc. owned 1.05% of ProShares Ultra Basic Materials at the end of the most recent reporting period.

About ProShares Ultra Basic Materials (NYSEARCA:UYM)

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.

Further Reading: Understanding Market Liquidity

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