ProShares UltraPro Russell 2000 (NYSEARCA:URTY) Stock Price Up 1.6% – Time to Buy?

ProShares UltraPro Russell 2000 (NYSEARCA:URTY)’s share price were up 1.6% on Monday . The stock traded as high as $73.82 and last traded at $73.11. 220,297 shares traded hands during trading, a decline of 79% from the average daily volume of 1,027,414 shares. The stock had previously closed at $71.99.

ProShares UltraPro Russell 2000 Stock Performance

The firm’s 50-day moving average price is $81.29 and its two-hundred day moving average price is $73.96. The stock has a market cap of $296.10 million, a price-to-earnings ratio of 16.35 and a beta of 3.31.

Institutional Investors Weigh In On ProShares UltraPro Russell 2000

Several institutional investors and hedge funds have recently modified their holdings of URTY. Tucker Asset Management LLC purchased a new stake in ProShares UltraPro Russell 2000 during the second quarter worth about $141,000. Waverly Advisors LLC purchased a new position in shares of ProShares UltraPro Russell 2000 in the second quarter valued at approximately $223,000. Allegheny Financial Group boosted its stake in shares of ProShares UltraPro Russell 2000 by 63.8% in the first quarter. Allegheny Financial Group now owns 7,943 shares of the company’s stock valued at $409,000 after purchasing an additional 3,094 shares during the period. Ascentis Independent Advisors grew its holdings in shares of ProShares UltraPro Russell 2000 by 93.3% in the first quarter. Ascentis Independent Advisors now owns 8,165 shares of the company’s stock valued at $421,000 after purchasing an additional 3,941 shares in the last quarter. Finally, Founders Financial Securities LLC grew its holdings in shares of ProShares UltraPro Russell 2000 by 3.8% in the first quarter. Founders Financial Securities LLC now owns 8,624 shares of the company’s stock valued at $445,000 after purchasing an additional 314 shares in the last quarter.

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.