ProShares UltraPro Russell 2000 (NYSEARCA:URTY) Trading Down 1.9% – Should You Sell?

ProShares UltraPro Russell 2000 (NYSEARCA:URTY)’s stock price traded down 1.9% during trading on Monday . The stock traded as low as $78.80 and last traded at $79.78. 327,169 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,086,031 shares. The stock had previously closed at $81.34.

ProShares UltraPro Russell 2000 Stock Down 1.9%

The stock has a 50 day simple moving average of $83.76 and a 200 day simple moving average of $72.56. The company has a market cap of $323.11 million, a price-to-earnings ratio of 16.35 and a beta of 3.31.

Hedge Funds Weigh In On ProShares UltraPro Russell 2000

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in ProShares UltraPro Russell 2000 in the 4th quarter worth approximately $7,103,000. Tower Research Capital LLC TRC raised its stake in shares of ProShares UltraPro Russell 2000 by 0.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 24,560 shares of the company’s stock valued at $1,306,000 after purchasing an additional 227 shares during the period. Bank of America Corp DE purchased a new stake in shares of ProShares UltraPro Russell 2000 during the second quarter valued at approximately $868,000. IMC Chicago LLC lifted its position in shares of ProShares UltraPro Russell 2000 by 69.1% during the first quarter. IMC Chicago LLC now owns 19,451 shares of the company’s stock worth $1,003,000 after purchasing an additional 7,951 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of ProShares UltraPro Russell 2000 during the second quarter worth $598,000.

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.