ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Trading Up 7.1% – Still a Buy?

ProShares UltraShort Russell 2000 (NYSEARCA:TWM – Get Free Report) were up 7.1% during mid-day trading on Friday . The stock traded as high as $24.13 and last traded at $23.91. Approximately 922,910 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 794,465 shares. The stock had previously closed at $22.32.

ProShares UltraShort Russell 2000 Trading Up 7.1%

The stock has a 50-day moving average price of $25.66 and a 200 day moving average price of $28.56.

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Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TWM. Hillsdale Investment Management Inc. boosted its holdings in shares of ProShares UltraShort Russell 2000 by 18.3% in the first quarter. Hillsdale Investment Management Inc. now owns 79,302 shares of the company’s stock valued at $2,456,000 after acquiring an additional 12,260 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of ProShares UltraShort Russell 2000 by 549,942.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 38,503 shares of the company’s stock valued at $1,232,000 after acquiring an additional 38,496 shares during the period. IMC Chicago LLC purchased a new stake in ProShares UltraShort Russell 2000 in the 4th quarter valued at $1,201,000. Jane Street Group LLC purchased a new stake in ProShares UltraShort Russell 2000 in the 4th quarter valued at $664,000. Finally, Flow Traders U.S. LLC boosted its stake in ProShares UltraShort Russell 2000 by 22.4% during the 2nd quarter. Flow Traders U.S. LLC now owns 7,429 shares of the company’s stock worth $321,000 after purchasing an additional 1,362 shares during the period.

ProShares UltraShort Russell 2000 Company Profile

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ProShares UltraShort Russell2000 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Russell 2000 Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.

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