Short Interest in ProShares Ultra Russell 2000 (NYSEARCA:UWM) Drops By 45.5%

ProShares Ultra Russell 2000 (NYSEARCA:UWM) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 195,764 shares, a decrease of 45.5% from the June 15th total of 359,527 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average trading volume of 287,786 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Client First Investment Management LLC acquired a new stake in ProShares Ultra Russell 2000 in the 2nd quarter worth about $8,040,000. Quadrature Capital Ltd purchased a new stake in ProShares Ultra Russell 2000 during the 4th quarter worth approximately $3,344,000. Wealthcare Advisory Partners LLC acquired a new position in shares of ProShares Ultra Russell 2000 during the fourth quarter valued at approximately $3,201,000. OLD Mission Capital LLC acquired a new position in shares of ProShares Ultra Russell 2000 during the fourth quarter valued at approximately $1,517,000. Finally, CWM LLC lifted its position in shares of ProShares Ultra Russell 2000 by 91.6% in the fourth quarter. CWM LLC now owns 63,004 shares of the company’s stock valued at $2,962,000 after acquiring an additional 30,122 shares in the last quarter.

ProShares Ultra Russell 2000 Trading Down 1.0%

UWM traded down $0.65 during midday trading on Friday, hitting $64.31. 308,090 shares of the company traded hands, compared to its average volume of 538,870. The business has a 50 day simple moving average of $63.19 and a two-hundred day simple moving average of $55.99. ProShares Ultra Russell 2000 has a 52-week low of $36.18 and a 52-week high of $68.32. The company has a market capitalization of $273.32 million, a price-to-earnings ratio of 13.49 and a beta of 2.20.

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.