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

ProShares UltraShort Russell 2000 (NYSEARCA:TWM) were up 7.1% during mid-day trading on Friday . The company traded as high as $24.13 and last traded at $23.91. Approximately 922,910 shares were traded 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 business has a 50-day moving average price of $25.66 and a 200-day moving average price of $28.56.

Institutional Investors Weigh In On ProShares UltraShort Russell 2000

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. raised its position in shares of ProShares UltraShort Russell 2000 by 18.3% during the first quarter. Hillsdale Investment Management Inc. now owns 79,302 shares of the company’s stock worth $2,456,000 after purchasing an additional 12,260 shares during the period. Tower Research Capital LLC TRC raised its position in shares of ProShares UltraShort Russell 2000 by 549,942.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 38,503 shares of the company’s stock worth $1,232,000 after purchasing an additional 38,496 shares during the period. Jane Street Group LLC acquired a new stake in shares of ProShares UltraShort Russell 2000 during the fourth quarter worth $664,000. IMC Chicago LLC acquired a new stake in shares of ProShares UltraShort Russell 2000 during the fourth quarter worth $1,201,000. Finally, Qube Research & Technologies Ltd raised its position in shares of ProShares UltraShort Russell 2000 by 101.3% during the third quarter. Qube Research & Technologies Ltd now owns 902 shares of the company’s stock worth $31,000 after purchasing an additional 454 shares during the period.

ProShares UltraShort Russell 2000 Company Profile

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.