ProShares Ultra Russell 2000 (NYSEARCA:UWM – Get Free Report) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 371,470 shares, an increase of 143.3% from the April 15th total of 152,710 shares. Currently, 8.7% of the company’s stock are short sold. Based on an average daily volume of 284,860 shares, the days-to-cover ratio is presently 1.3 days.
ProShares Ultra Russell 2000 Stock Down 4.2%
Shares of UWM stock traded down $2.58 during mid-day trading on Friday, reaching $58.26. 153,556 shares of the company’s stock traded hands, compared to its average volume of 632,840. The company’s 50-day moving average price is $52.40 and its 200-day moving average price is $50.82. The company has a market cap of $247.61 million, a P/E ratio of 13.49 and a beta of 2.22. ProShares Ultra Russell 2000 has a 12 month low of $32.34 and a 12 month high of $62.24.
Institutional Investors Weigh In On ProShares Ultra Russell 2000
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new stake in shares of ProShares Ultra Russell 2000 in the 1st quarter worth approximately $47,000. Federation des caisses Desjardins du Quebec purchased a new position in ProShares Ultra Russell 2000 during the fourth quarter valued at $47,000. Bank of America Corp DE bought a new stake in ProShares Ultra Russell 2000 in the third quarter worth $120,000. Kingsview Wealth Management LLC purchased a new stake in shares of ProShares Ultra Russell 2000 in the third quarter worth $228,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of ProShares Ultra Russell 2000 in the third quarter worth $237,000.
About ProShares Ultra Russell 2000
The ProShares Ultra Russell2000 (UWM) is an exchange-traded fund that is based on the Russell 2000 index. The fund provides 2x leveraged exposure to a market-cap-weighted index of US small-cap companies. UWM was launched on Jan 23, 2007 and is managed by ProShares.
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