ProShares Ultra Russell 2000 (NYSEARCA:UWM – Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 132,700 shares, a drop of 37.0% from the July 15th total of 210,754 shares. Based on an average trading volume of 285,532 shares, the short-interest ratio is presently 0.5 days. Currently, 3.6% of the company’s shares are short sold.
Hedge Funds Weigh In On ProShares Ultra Russell 2000
A number of institutional investors and hedge funds have recently modified their holdings of UWM. Federation des caisses Desjardins du Quebec bought a new position in shares of ProShares Ultra Russell 2000 during the 4th quarter valued at approximately $47,000. Bogart Wealth LLC purchased a new position in ProShares Ultra Russell 2000 during the first quarter worth $47,000. Legacy Wealth Partners LLC increased its position in ProShares Ultra Russell 2000 by 4.6% during the first quarter. Legacy Wealth Partners LLC now owns 29,802 shares of the company’s stock valued at $1,391,000 after acquiring an additional 1,306 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of ProShares Ultra Russell 2000 in the third quarter valued at $120,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of ProShares Ultra Russell 2000 in the second quarter valued at $241,000.
ProShares Ultra Russell 2000 Stock Down 2.4%
NYSEARCA UWM traded down $1.64 during trading hours on Tuesday, hitting $66.62. 234,444 shares of the company were exchanged, compared to its average volume of 497,088. The stock has a 50-day moving average price of $65.08 and a 200 day moving average price of $58.00. ProShares Ultra Russell 2000 has a 52 week low of $39.99 and a 52 week high of $68.82. The stock has a market cap of $246.49 million, a PE ratio of 13.49 and a beta of 2.21.
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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