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

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 328,037 shares, a growth of 39.2% from the December 31st total of 235,736 shares. Based on an average daily trading volume, of 1,052,547 shares, the days-to-cover ratio is currently 0.3 days. Approximately 5.7% of the company’s stock are short sold. Approximately 5.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,052,547 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Russell 2000

Several large investors have recently modified their holdings of UWM. Truist Financial Corp bought a new stake in shares of ProShares Ultra Russell 2000 during the 2nd quarter worth about $222,000. Simplicity Wealth LLC lifted its position in ProShares Ultra Russell 2000 by 16.4% during the second quarter. Simplicity Wealth LLC now owns 118,610 shares of the company’s stock worth $4,468,000 after acquiring an additional 16,699 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of ProShares Ultra Russell 2000 by 31.7% during the second quarter. Axxcess Wealth Management LLC now owns 24,386 shares of the company’s stock worth $919,000 after acquiring an additional 5,873 shares during the period. GWN Securities Inc. grew its position in shares of ProShares Ultra Russell 2000 by 102.3% in the second quarter. GWN Securities Inc. now owns 26,466 shares of the company’s stock valued at $997,000 after purchasing an additional 13,386 shares during the last quarter. Finally, Atria Investments Inc grew its position in shares of ProShares Ultra Russell 2000 by 14.3% in the second quarter. Atria Investments Inc now owns 119,768 shares of the company’s stock valued at $4,512,000 after purchasing an additional 15,017 shares during the last quarter.

ProShares Ultra Russell 2000 Price Performance

ProShares Ultra Russell 2000 stock opened at $52.93 on Tuesday. The firm has a market capitalization of $304.35 million, a PE ratio of 13.49 and a beta of 2.27. The company’s 50-day moving average is $50.53 and its 200-day moving average is $46.51. ProShares Ultra Russell 2000 has a fifty-two week low of $24.47 and a fifty-two week high of $56.97.

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.