ProShares Ultra Russell 2000 (NYSEARCA:UWM) Short Interest Up 39.2% in January

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 328,037 shares, a growth of 39.2% from the December 31st total of 235,736 shares. Approximately 5.7% of the company’s shares are short sold. Based on an average daily volume of 1,052,547 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 1,052,547 shares, the short-interest ratio is presently 0.3 days. Approximately 5.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UWM. Truist Financial Corp purchased a new position in shares of ProShares Ultra Russell 2000 in the 2nd quarter worth $222,000. Simplicity Wealth LLC increased its stake in shares of ProShares Ultra Russell 2000 by 16.4% in the second quarter. Simplicity Wealth LLC now owns 118,610 shares of the company’s stock worth $4,468,000 after purchasing an additional 16,699 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in ProShares Ultra Russell 2000 by 31.7% in the 2nd quarter. Axxcess Wealth Management LLC now owns 24,386 shares of the company’s stock worth $919,000 after buying an additional 5,873 shares in the last quarter. GWN Securities Inc. raised its stake in ProShares Ultra Russell 2000 by 102.3% during the 2nd quarter. GWN Securities Inc. now owns 26,466 shares of the company’s stock valued at $997,000 after purchasing an additional 13,386 shares during the period. Finally, Atria Investments Inc raised its position in shares of ProShares Ultra Russell 2000 by 14.3% during the second quarter. Atria Investments Inc now owns 119,768 shares of the company’s stock valued at $4,512,000 after buying an additional 15,017 shares during the last quarter.

ProShares Ultra Russell 2000 Price Performance

UWM stock traded down $1.54 during trading on Friday, reaching $51.93. The company had a trading volume of 862,655 shares, compared to its average volume of 915,453. The company has a market cap of $298.60 million, a P/E ratio of 13.49 and a beta of 2.27. The business has a 50 day moving average of $50.37 and a 200 day moving average of $46.38. ProShares Ultra Russell 2000 has a 52 week low of $24.47 and a 52 week high of $56.97.

ProShares Ultra Russell 2000 Company Profile

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.