ProShares UltraShort Russell2000 (NYSEARCA:TWM)’s share price were up 5.5% during mid-day trading on Wednesday . The company traded as high as $16.69 and last traded at $16.60, approximately 1,417,985 shares traded hands during trading. An increase of 41% from the average daily volume of 1,003,453 shares. The stock had previously closed at $15.73.
Separately, GMP Securities reiterated a “buy” rating and set a $2.00 target price on shares of ProShares UltraShort Russell2000 in a research report on Tuesday, April 30th.
The company has a 50 day simple moving average of $15.05.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC bought a new stake in shares of ProShares UltraShort Russell2000 in the 2nd quarter worth $81,000. Hillsdale Investment Management Inc. grew its position in ProShares UltraShort Russell2000 by 23.7% during the second quarter. Hillsdale Investment Management Inc. now owns 104,500 shares of the company’s stock valued at $1,541,000 after buying an additional 20,000 shares during the period. Bank of Nova Scotia bought a new position in ProShares UltraShort Russell2000 during the second quarter valued at about $336,000. Finally, Bank of Montreal Can bought a new position in ProShares UltraShort Russell2000 during the first quarter valued at about $698,000.
About ProShares UltraShort Russell2000 (NYSEARCA:TWM)
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.
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