ProShares Ultra Russell 2000 (NYSEARCA:UWM) Sees Large Decrease in Short Interest

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 195,764 shares, a decline of 45.5% from the June 15th total of 359,527 shares. Based on an average daily volume of 287,786 shares, the days-to-cover ratio is presently 0.7 days. Approximately 4.5% of the company’s stock are short sold.

Hedge Funds Weigh In On ProShares Ultra Russell 2000

Institutional investors have recently modified their holdings of the business. Flow Traders U.S. LLC bought a new stake in ProShares Ultra Russell 2000 during the second quarter worth $263,000. Orion Porfolio Solutions LLC bought a new position in ProShares Ultra Russell 2000 in the 2nd quarter valued at $440,000. Tower Research Capital LLC TRC grew its stake in ProShares Ultra Russell 2000 by 60.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 47,015 shares of the company’s stock valued at $1,771,000 after purchasing an additional 17,689 shares during the period. Bank of America Corp DE purchased a new stake in shares of ProShares Ultra Russell 2000 during the 3rd quarter valued at $120,000. Finally, Polymer Capital Management HK LTD purchased a new stake in shares of ProShares Ultra Russell 2000 during the 3rd quarter valued at $417,000.

ProShares Ultra Russell 2000 Stock Down 0.1%

UWM stock traded down $0.09 during trading on Thursday, reaching $64.96. The stock had a trading volume of 320,289 shares, compared to its average volume of 540,591. ProShares Ultra Russell 2000 has a one year low of $36.18 and a one year high of $68.32. The company’s 50 day moving average is $63.01 and its two-hundred day moving average is $55.82. The company has a market capitalization of $276.08 million, a price-to-earnings ratio of 13.49 and a beta of 2.20.

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.