About ProShares UltraShort Basic Materials (SMN)

The ProShares UltraShort Basic Materials (SMN) is an exchange-traded fund (ETF) that seeks to provide a -2x inverse daily performance to the Dow Jones U.S. Basic Materials Index. It aims to achieve this by utilizing various financial instruments, including short positions, futures contracts, and options. The fund is managed by ProShares, a leading provider of ETFs with a focus on delivering inverse or leveraged exposure to different market sectors. SMN is designed for investors seeking to hedge against or capitalize on downward movements in the basic materials sector.

As of the latest available quote, the ProShares UltraShort Basic Materials (SMN) is priced at $10.25 per share. This price represents the inverse performance of the underlying index, meaning that if the index decreases by 1%, SMN may increase by approximately 2%. It is important to note that due to compounding and other factors, the fund's performance can deviate from the stated objective over longer periods.