Envestnet Asset Management Inc. Sells 2,486,880 Shares of ProShares Ultra Russell 2000 $UWM

Envestnet Asset Management Inc. trimmed its position in shares of ProShares Ultra Russell 2000 (NYSEARCA:UWM) by 90.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,961 shares of the company’s stock after selling 2,486,880 shares during the quarter. Envestnet Asset Management Inc. owned approximately 4.88% of ProShares Ultra Russell 2000 worth $11,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global View Capital Management LLC bought a new stake in shares of ProShares Ultra Russell 2000 during the third quarter valued at approximately $1,229,000. Client First Investment Management LLC bought a new position in ProShares Ultra Russell 2000 in the third quarter worth $5,042,000. B. Riley Wealth Advisors Inc. purchased a new position in ProShares Ultra Russell 2000 during the second quarter valued at $608,000. CWM LLC purchased a new position in ProShares Ultra Russell 2000 during the third quarter valued at $1,524,000. Finally, WealthBridge Capital Management LLC boosted its holdings in shares of ProShares Ultra Russell 2000 by 8.4% during the 2nd quarter. WealthBridge Capital Management LLC now owns 22,114 shares of the company’s stock valued at $833,000 after buying an additional 1,719 shares in the last quarter.

ProShares Ultra Russell 2000 Price Performance

NYSEARCA:UWM opened at $53.03 on Wednesday. The firm’s 50-day moving average price is $51.65 and its 200-day moving average price is $47.55. The company has a market capitalization of $299.62 million, a PE ratio of 13.49 and a beta of 2.27. ProShares Ultra Russell 2000 has a 1-year low of $24.47 and a 1-year high of $56.97.

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.