ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Share Price Break Above Fifty Day Moving Average – Here’s Why

Shares of ProShares UltraShort Russell 2000 (NYSEARCA:TWM) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $23.22 and traded as high as $24.37. ProShares UltraShort Russell 2000 shares last traded at $23.98, with a volume of 1,924,782 shares traded.

ProShares UltraShort Russell 2000 Trading Up 3.4%

The stock has a fifty day moving average of $23.22 and a 200 day moving average of $24.75.

Hedge Funds Weigh In On ProShares UltraShort Russell 2000

A hedge fund recently raised its position in ProShares UltraShort Russell 2000 stock. Hillsdale Investment Management Inc. lifted its stake in shares of ProShares UltraShort Russell 2000 (NYSEARCA:TWM) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,302 shares of the company’s stock after purchasing an additional 12,260 shares during the period. Hillsdale Investment Management Inc. owned 4.17% of ProShares UltraShort Russell 2000 worth $2,456,000 as of its most recent SEC filing.

ProShares UltraShort Russell 2000 Company Profile

ProShares UltraShort Russell2000 (the Fund) seeks daily investment results that correspond to twice (200%) 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.