ProShares UltraPro Short Russell 2000 (NYSEARCA:SRTY) Shares Break Above Two Hundred Day Moving Average – Time to Sell?

ProShares UltraPro Short Russell 2000 (NYSEARCA:SRTY)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $25.75 and traded as high as $26.87. ProShares UltraPro Short Russell 2000 shares last traded at $26.84, with a volume of 595,496 shares.

ProShares UltraPro Short Russell 2000 Stock Up 5.8%

The firm’s fifty day moving average price is $23.73 and its 200-day moving average price is $25.67.

Institutional Investors Weigh In On ProShares UltraPro Short Russell 2000

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ridgepath Capital Management LLC acquired a new position in ProShares UltraPro Short Russell 2000 in the 1st quarter valued at about $5,588,000. Squarepoint Ops LLC boosted its position in shares of ProShares UltraPro Short Russell 2000 by 98.8% during the 2nd quarter. Squarepoint Ops LLC now owns 18,412 shares of the exchange traded fund’s stock worth $394,000 after purchasing an additional 9,150 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of ProShares UltraPro Short Russell 2000 during the 1st quarter valued at approximately $135,000.

ProShares UltraPro Short Russell 2000 Company Profile

ProShares UltraPro Short Russell2000 (the Fund) seeks daily investment results, which correspond to triple (300%) the inverse (opposite) of the daily performance of the Russell 2000 Index (the Index). The Fund seeks a return -300% of the return of an index for a single day. The Russell 2000 Index consists of 2,000 of the smallest United States-domiciled, publicly traded common stocks included in the Russell 3000 Index. The investment advisor of the Fund is ProShare Advisors LLC (ProShare Advisors).