ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Stock Price Cross Above 50 Day Moving Average – Should You Sell?

Shares of ProShares UltraShort Russell 2000 (NYSEARCA:TWM) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $23.22 and traded as high as $24.37. ProShares UltraShort Russell 2000 shares last traded at $23.98, with a volume of 1,924,782 shares trading hands.

ProShares UltraShort Russell 2000 Stock Up 3.4%

The stock’s 50 day simple moving average is $23.22 and its two-hundred day simple moving average is $24.75.

Hedge Funds Weigh In On ProShares UltraShort Russell 2000

A hedge fund recently raised its position in ProShares UltraShort Russell 2000 stock. Hillsdale Investment Management Inc. boosted its stake in shares of ProShares UltraShort Russell 2000 (NYSEARCA:TWM) by 18.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,302 shares of the company’s stock after buying an additional 12,260 shares during the period. Hillsdale Investment Management Inc. owned 4.17% of ProShares UltraShort Russell 2000 worth $2,456,000 at the end of the most recent quarter.

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.