ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Trading Up 1.9% – Still a Buy?

ProShares UltraShort Russell 2000 (NYSEARCA:TWM) shares rose 1.9% during mid-day trading on Wednesday . The company traded as high as $21.75 and last traded at $21.69. Approximately 551,411 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 753,671 shares. The stock had previously closed at $21.28.

ProShares UltraShort Russell 2000 Stock Up 0.3%

The company has a 50 day moving average price of $22.22 and a 200 day moving average price of $26.02.

Hedge Funds Weigh In On ProShares UltraShort Russell 2000

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in ProShares UltraShort Russell 2000 in the first quarter valued at approximately $668,000. Flow Traders U.S. LLC boosted its position in shares of ProShares UltraShort Russell 2000 by 22.4% in the 2nd quarter. Flow Traders U.S. LLC now owns 7,429 shares of the company’s stock valued at $321,000 after purchasing an additional 1,362 shares during the period. Qube Research & Technologies Ltd grew its stake in ProShares UltraShort Russell 2000 by 101.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 902 shares of the company’s stock worth $31,000 after buying an additional 454 shares during the last quarter. IMC Chicago LLC purchased a new position in ProShares UltraShort Russell 2000 during the 4th quarter worth approximately $1,201,000. Finally, Hillsdale Investment Management Inc. increased its position in ProShares UltraShort Russell 2000 by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 67,042 shares of the company’s stock worth $2,145,000 after buying an additional 430 shares during the period.

About ProShares UltraShort Russell 2000

ProShares UltraShort Russell2000 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Russell 2000 Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.