ProShares UltraShort Russell2000 (NYSEARCA:TWM) Trading 5.5% Higher

ProShares UltraShort Russell2000 (NYSEARCA:TWM) shares traded up 5.5% on Wednesday . The company traded as high as $16.69 and last traded at $16.60, 1,417,985 shares traded hands during mid-day trading. An increase of 41% from the average session volume of 1,003,453 shares. The stock had previously closed at $15.73.

Separately, GMP Securities reaffirmed a “buy” rating and issued a $2.00 target price on shares of ProShares UltraShort Russell2000 in a research note on Tuesday, April 30th.

The stock’s 50 day moving average is $15.05.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. grew its position in ProShares UltraShort Russell2000 by 23.7% during the second quarter. Hillsdale Investment Management Inc. now owns 104,500 shares of the company’s stock valued at $1,541,000 after acquiring an additional 20,000 shares during the last quarter. Bank of Montreal Can bought a new position in ProShares UltraShort Russell2000 during the first quarter valued at approximately $698,000. Bank of Nova Scotia bought a new position in ProShares UltraShort Russell2000 during the second quarter valued at approximately $336,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in ProShares UltraShort Russell2000 during the second quarter valued at approximately $81,000.

ProShares UltraShort Russell2000 Company Profile (NYSEARCA:TWM)

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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