ProShares UltraShort 20+ Year Treasury (NYSEARCA:TBT) Shares Climb 3% – Still a Buy?

ProShares UltraShort 20+ Year Treasury (NYSEARCA:TBT)’s stock price shot up 3% during trading on Thursday. The company traded as high as $40.11 and last traded at $40.09. 232,543 shares were traded during mid-day trading, a decline of 44% from the average session volume of 415,439 shares. The stock had previously closed at $38.92.

ProShares UltraShort 20+ Year Treasury Stock Performance

The company’s 50 day simple moving average is $39.84 and its two-hundred day simple moving average is $36.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TBT. Virtue Capital Management LLC grew its position in ProShares UltraShort 20+ Year Treasury by 13.0% during the 3rd quarter. Virtue Capital Management LLC now owns 23,753 shares of the exchange traded fund’s stock worth $1,009,000 after acquiring an additional 2,734 shares during the last quarter. Auour Investments LLC raised its position in ProShares UltraShort 20+ Year Treasury by 3.8% in the 3rd quarter. Auour Investments LLC now owns 13,497 shares of the exchange traded fund’s stock valued at $573,000 after purchasing an additional 496 shares during the last quarter. Hourglass Capital LLC bought a new position in ProShares UltraShort 20+ Year Treasury in the 3rd quarter valued at $242,000. WealthPlan Investment Management LLC boosted its stake in ProShares UltraShort 20+ Year Treasury by 16.7% in the third quarter. WealthPlan Investment Management LLC now owns 35,000 shares of the exchange traded fund’s stock worth $1,487,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Camelot Technology Advisors Inc. boosted its stake in ProShares UltraShort 20+ Year Treasury by 9.8% in the third quarter. Camelot Technology Advisors Inc. now owns 25,075 shares of the exchange traded fund’s stock worth $1,065,000 after purchasing an additional 2,228 shares in the last quarter.

About ProShares UltraShort 20+ Year Treasury

ProShares UltraShort 20+ Year Treasury (the Fund), formerly ProShares UltraShort Lehman 20+ Year Treasury, seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index (the Index). The Index includes all publicly issued, the United States Treasury securities that have a remaining maturity greater than 20 years, are non-convertible, are denominated in United States dollars, are rated investment grade (at least Baa3 by Moody’s Investors Service or BBB- by Standard & Poor’s (S&P)), are fixed rate, and have more than $250 million par outstanding.