ProShares UltraPro Russell 2000 (NYSEARCA:URTY) Shares Down 2.4% – Time to Sell?

ProShares UltraPro Russell 2000 (NYSEARCA:URTY)’s stock price fell 2.4% during mid-day trading on Wednesday . The company traded as low as $78.31 and last traded at $79.03. Approximately 1,511,925 shares were traded during mid-day trading, an increase of 12% from the average session volume of 1,349,123 shares. The stock had previously closed at $80.96.

ProShares UltraPro Russell 2000 Price Performance

The stock has a market capitalization of $405.36 million, a PE ratio of 16.35 and a beta of 3.32. The company has a 50-day moving average of $73.44 and a 200 day moving average of $63.88.

Hedge Funds Weigh In On ProShares UltraPro Russell 2000

A number of large investors have recently modified their holdings of URTY. Quadrature Capital Ltd purchased a new stake in shares of ProShares UltraPro Russell 2000 in the fourth quarter valued at approximately $7,103,000. Tower Research Capital LLC TRC raised its position in ProShares UltraPro Russell 2000 by 0.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 24,560 shares of the company’s stock worth $1,306,000 after acquiring an additional 227 shares in the last quarter. Bank of America Corp DE purchased a new position in ProShares UltraPro Russell 2000 in the second quarter worth $868,000. IMC Chicago LLC lifted its holdings in ProShares UltraPro Russell 2000 by 69.1% in the first quarter. IMC Chicago LLC now owns 19,451 shares of the company’s stock valued at $1,003,000 after acquiring an additional 7,951 shares during the period. Finally, Optiver Holding B.V. lifted its holdings in ProShares UltraPro Russell 2000 by 127.0% in the third quarter. Optiver Holding B.V. now owns 15,567 shares of the company’s stock valued at $825,000 after acquiring an additional 8,710 shares during the period.

About ProShares UltraPro Russell 2000

The ProShares UltraPro Russell2000 (URTY) is an exchange-traded fund that is based on the Russell 2000 index. The fund provides 3x leveraged exposure to a market-cap-weighted index of US small-cap companies. URTY was launched on Feb 11, 2010 and is managed by ProShares.