ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Trading Up 1.9% – Still a Buy?

ProShares UltraShort Russell 2000 (NYSEARCA:TWM) shares shot up 1.9% during mid-day trading on Wednesday . The company traded as high as $21.75 and last traded at $21.69. Approximately 551,411 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 753,671 shares. The stock had previously closed at $21.28.

ProShares UltraShort Russell 2000 Stock Performance

The firm’s 50 day simple moving average is $22.25 and its 200 day simple moving average is $26.09.

Institutional Investors Weigh In On ProShares UltraShort Russell 2000

Institutional investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. grew its holdings in ProShares UltraShort Russell 2000 by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 67,042 shares of the company’s stock valued at $2,145,000 after purchasing an additional 430 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in ProShares UltraShort Russell 2000 by 101.3% in the third quarter. Qube Research & Technologies Ltd now owns 902 shares of the company’s stock worth $31,000 after purchasing an additional 454 shares during the last quarter. Flow Traders U.S. LLC lifted its stake in ProShares UltraShort Russell 2000 by 22.4% in the second quarter. Flow Traders U.S. LLC now owns 7,429 shares of the company’s stock worth $321,000 after purchasing an additional 1,362 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of ProShares UltraShort Russell 2000 during the first quarter valued at approximately $668,000. Finally, IMC Chicago LLC purchased a new position in shares of ProShares UltraShort Russell 2000 during the fourth quarter valued at approximately $1,201,000.

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.