ProShares Ultra Russell 2000 (NYSEARCA:UWM) Sees Significant Drop in Short Interest
by Scott Moore · The Cerbat GemProShares Ultra Russell 2000 (NYSEARCA:UWM – Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 54,779 shares, a decline of 83.3% from the January 15th total of 328,037 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 778,565 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 778,565 shares, the short-interest ratio is currently 0.1 days. Currently, 1.0% of the shares of the stock are sold short.
ProShares Ultra Russell 2000 Trading Down 1.5%
UWM stock traded down $0.84 during midday trading on Wednesday, reaching $53.57. The stock had a trading volume of 362,406 shares, compared to its average volume of 866,504. ProShares Ultra Russell 2000 has a 52-week low of $24.47 and a 52-week high of $56.97. The company’s fifty day simple moving average is $51.24 and its 200 day simple moving average is $47.06. The company has a market cap of $302.66 million, a price-to-earnings ratio of 13.49 and a beta of 2.27.
Institutional Investors Weigh In On ProShares Ultra Russell 2000
A number of hedge funds have recently modified their holdings of UWM. Client First Investment Management LLC acquired a new position in ProShares Ultra Russell 2000 in the 3rd quarter valued at about $5,042,000. Wealthcare Advisory Partners LLC acquired a new stake in ProShares Ultra Russell 2000 during the fourth quarter worth $3,201,000. Capital Investment Advisory Services LLC raised its position in ProShares Ultra Russell 2000 by 786.0% in the third quarter. Capital Investment Advisory Services LLC now owns 38,100 shares of the company’s stock valued at $1,766,000 after purchasing an additional 33,800 shares during the period. CWM LLC acquired a new position in shares of ProShares Ultra Russell 2000 in the 3rd quarter valued at $1,524,000. Finally, Global View Capital Management LLC purchased a new position in shares of ProShares Ultra Russell 2000 during the 3rd quarter worth $1,229,000.
ProShares Ultra Russell 2000 Company Profile
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.