Proshares Short Basic Materials (SBM) Shares Cross Above 200 DMA

In trading on Wednesday, shares of the Proshares Short Basic Materials ETF ( SBM) crossed above their 200 day moving average of $34.92, changing hands as high as $35.07 per share. Proshares Short Basic Materials shares are currently trading up about 1.1% on the day. The chart below shows the one year performance of SBM shares, versus its 200 day moving average:

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Proshares Short Basic Materials 200 Day Moving Average Chart

Looking at the chart above, SBM's low point in its 52 week range is $31.10 per share, with $40.81 as the 52 week high point — that compares with a last trade of $35.07.
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