ProShares UltraPro Russell 2000 (NYSEARCA:URTY) Trading Down 2.8% – Should You Sell?

ProShares UltraPro Russell 2000 (NYSEARCA:URTY) dropped 2.8% during mid-day trading on Wednesday . The stock traded as low as $78.97 and last traded at $81.34. 549,483 shares were traded during mid-day trading, a decline of 58% from the average session volume of 1,295,149 shares. The stock had previously closed at $83.70.

ProShares UltraPro Russell 2000 Price Performance

The company’s fifty day simple moving average is $78.58 and its two-hundred day simple moving average is $66.69. The stock has a market cap of $333.49 million, a price-to-earnings ratio of 16.35 and a beta of 3.29.

Institutional Investors Weigh In On ProShares UltraPro Russell 2000

A number of institutional investors and hedge funds have recently made changes to their positions in URTY. Bank of America Corp DE acquired a new position in ProShares UltraPro Russell 2000 during the 2nd quarter valued at about $868,000. Group One Trading LLC raised its stake in shares of ProShares UltraPro Russell 2000 by 548.0% in the second quarter. Group One Trading LLC now owns 1,756 shares of the company’s stock worth $69,000 after purchasing an additional 1,485 shares during the last quarter. Tidal Investments LLC bought a new position in shares of ProShares UltraPro Russell 2000 in the second quarter valued at approximately $598,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProShares UltraPro Russell 2000 by 35.2% in the third quarter. Tower Research Capital LLC TRC now owns 24,333 shares of the company’s stock valued at $1,290,000 after purchasing an additional 6,332 shares in the last quarter. Finally, International Private Wealth Advisors LLC purchased a new position in shares of ProShares UltraPro Russell 2000 during the fourth quarter valued at approximately $308,000.

ProShares UltraPro Russell 2000 Company Profile

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.