ProShares UltraShort Russell2000 (NYSEARCA:TWM) had its price target upped by research analysts at CIBC from $2.40 to $2.45 in a research report issued to clients and investors on Thursday. CIBC’s price target suggests a potential downside of 85.08% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada upgraded ProShares UltraShort Russell2000 to a “buy” rating and set a $2.00 price objective for the company in a research note on Wednesday, November 15th. Scotiabank upped their price target on ProShares UltraShort Russell2000 from $2.00 to $2.25 and gave the company an “outperform” rating in a research report on Thursday, December 7th.

ProShares UltraShort Russell2000 (TWM) traded down $0.51 during trading hours on Thursday, reaching $16.42. The company’s stock had a trading volume of 938,600 shares, compared to its average volume of 822,557. ProShares UltraShort Russell2000 has a 52 week low of $16.78 and a 52 week high of $24.26.

A hedge fund recently bought a new stake in ProShares UltraShort Russell2000 stock. Simplex Trading LLC acquired a new stake in ProShares UltraShort Russell2000 (NYSEARCA:TWM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,569 shares of the company’s stock, valued at approximately $149,000. Simplex Trading LLC owned about 0.13% of ProShares UltraShort Russell2000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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About ProShares UltraShort Russell2000

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.

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