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

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 132,700 shares, a decrease of 37.0% from the July 15th total of 210,754 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 285,532 shares, the short-interest ratio is presently 0.5 days.

ProShares Ultra Russell 2000 Trading Up 0.9%

NYSEARCA:UWM opened at $67.19 on Thursday. The stock has a 50-day moving average price of $65.36 and a 200 day moving average price of $58.19. The stock has a market capitalization of $248.60 million, a P/E ratio of 13.49 and a beta of 2.21. ProShares Ultra Russell 2000 has a 12-month low of $39.99 and a 12-month high of $68.82.

Institutional Investors Weigh In On ProShares Ultra Russell 2000

A number of institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC bought a new stake in shares of ProShares Ultra Russell 2000 during the first quarter valued at approximately $47,000. Federation des caisses Desjardins du Quebec bought a new position in shares of ProShares Ultra Russell 2000 during the fourth quarter worth $47,000. Bank of America Corp DE bought a new position in shares of ProShares Ultra Russell 2000 during the third quarter worth $120,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in ProShares Ultra Russell 2000 during the second quarter valued at $241,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares Ultra Russell 2000 during the second quarter valued at $263,000.

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.