ProShares Ultra Russell 2000 (NYSEARCA:UWM) Short Interest Up 143.3% in April

ProShares Ultra Russell 2000 (NYSEARCA:UWM) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 371,470 shares, a growth of 143.3% from the April 15th total of 152,710 shares. Based on an average daily trading volume, of 284,860 shares, the days-to-cover ratio is presently 1.3 days. Approximately 8.7% of the shares of the company are short sold.

Institutional Investors Weigh In On ProShares Ultra Russell 2000

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC bought a new position in ProShares Ultra Russell 2000 in the 1st quarter valued at about $47,000. Federation des caisses Desjardins du Quebec acquired a new position in ProShares Ultra Russell 2000 during the 4th quarter valued at about $47,000. Bank of America Corp DE bought a new stake in shares of ProShares Ultra Russell 2000 during the 3rd quarter worth about $120,000. Kingsview Wealth Management LLC acquired a new stake in shares of ProShares Ultra Russell 2000 in the 3rd quarter worth approximately $228,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of ProShares Ultra Russell 2000 in the 3rd quarter worth approximately $237,000.

ProShares Ultra Russell 2000 Trading Down 4.9%

UWM traded down $2.97 during trading hours on Friday, hitting $57.87. The company’s stock had a trading volume of 335,674 shares, compared to its average volume of 634,863. ProShares Ultra Russell 2000 has a fifty-two week low of $32.34 and a fifty-two week high of $62.24. The company has a 50-day simple moving average of $52.51 and a 200 day simple moving average of $50.87. The firm has a market capitalization of $245.95 million, a PE ratio of 13.49 and a beta of 2.22.

ProShares Ultra Russell 2000 Company Profile

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.