ProShares Short Russell2000 (NYSEARCA:RWM) Stock Price Break Above 200 Day Moving Average – Time to Sell?

ProShares Short Russell2000 (NYSEARCA:RWM)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $14.49 and traded as high as $14.83. ProShares Short Russell2000 shares last traded at $14.79, with a volume of 87,178,398 shares.

ProShares Short Russell2000 Stock Performance

The business has a 50 day moving average of $14.21 and a 200 day moving average of $14.49.

Shares of ProShares Short Russell2000 are going to reverse split on the morning of Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.

Institutional Investors Weigh In On ProShares Short Russell2000

Several hedge funds have recently bought and sold shares of the company. Leuthold Group LLC raised its stake in ProShares Short Russell2000 by 20.3% during the 3rd quarter. Leuthold Group LLC now owns 1,039,914 shares of the company’s stock worth $14,964,000 after buying an additional 175,584 shares during the period. AFG Fiduciary Services Limited Partnership lifted its holdings in ProShares Short Russell2000 by 147.1% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 149,965 shares of the company’s stock worth $2,016,000 after acquiring an additional 89,276 shares in the last quarter. IMC Chicago LLC bought a new position in ProShares Short Russell2000 during the first quarter worth about $1,753,000. Global View Capital Management LLC bought a new position in ProShares Short Russell2000 during the third quarter worth about $1,191,000. Finally, Choreo LLC grew its stake in ProShares Short Russell2000 by 32.4% in the third quarter. Choreo LLC now owns 59,883 shares of the company’s stock valued at $862,000 after acquiring an additional 14,645 shares during the period.

About ProShares Short Russell2000

ProShares Short Russell2000 (the Fund) seeks daily investment results that correspond to 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.