Short Interest in ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Drops By 61.9%

ProShares UltraShort Russell 2000 (NYSEARCA:TWM) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 57,714 shares, a drop of 61.9% from the May 14th total of 151,509 shares. Based on an average daily trading volume, of 686,624 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.0% of the shares of the stock are short sold.

ProShares UltraShort Russell 2000 Price Performance

TWM stock traded down $0.34 during mid-day trading on Friday, hitting $22.09. The stock had a trading volume of 799,061 shares, compared to its average volume of 800,736. ProShares UltraShort Russell 2000 has a 52 week low of $21.64 and a 52 week high of $47.50. The firm has a fifty day simple moving average of $24.79 and a 200 day simple moving average of $28.09.

Hedge Funds Weigh In On ProShares UltraShort Russell 2000

Several hedge funds have recently bought and sold shares of TWM. Jane Street Group LLC bought a new position in ProShares UltraShort Russell 2000 in the 1st quarter valued at about $668,000. Flow Traders U.S. LLC increased its holdings in ProShares UltraShort Russell 2000 by 22.4% in the 2nd quarter. Flow Traders U.S. LLC now owns 7,429 shares of the company’s stock valued at $321,000 after buying an additional 1,362 shares during the period. Hillsdale Investment Management Inc. increased its holdings in ProShares UltraShort Russell 2000 by 76.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 66,612 shares of the company’s stock valued at $2,256,000 after buying an additional 28,840 shares during the period. Qube Research & Technologies Ltd increased its holdings in ProShares UltraShort Russell 2000 by 101.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 902 shares of the company’s stock valued at $31,000 after buying an additional 454 shares during the period. Finally, IMC Chicago LLC bought a new position in ProShares UltraShort Russell 2000 in the 4th quarter valued at about $1,201,000.

About ProShares UltraShort Russell 2000

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.