Short Interest in ProShares Ultra Russell 2000 (NYSEARCA:UWM) Drops By 35.1%
by Danessa Lincoln · The Markets DailyProShares Ultra Russell 2000 (NYSEARCA:UWM – Get Free Report) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 71,789 shares, a drop of 35.1% from the February 26th total of 110,641 shares. Based on an average daily volume of 991,239 shares, the short-interest ratio is currently 0.1 days. Approximately 1.3% of the company’s stock are short sold.
ProShares Ultra Russell 2000 Stock Down 3.4%
UWM stock traded down $1.60 during trading on Friday, hitting $44.96. 294,940 shares of the company’s stock traded hands, compared to its average volume of 810,706. The firm has a market capitalization of $254.02 million, a P/E ratio of 13.49 and a beta of 2.27. ProShares Ultra Russell 2000 has a 1 year low of $24.47 and a 1 year high of $56.97. The business has a fifty day simple moving average of $51.30 and a two-hundred day simple moving average of $49.00.
ProShares Ultra Russell 2000 Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a $0.0718 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.6%.
Institutional Investors Weigh In On ProShares Ultra Russell 2000
A number of hedge funds have recently made changes to their positions in the stock. Global View Capital Management LLC bought a new stake in ProShares Ultra Russell 2000 during the third quarter valued at about $1,229,000. Client First Investment Management LLC bought a new position in ProShares Ultra Russell 2000 in the third quarter worth about $5,042,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of ProShares Ultra Russell 2000 during the second quarter valued at about $608,000. CWM LLC purchased a new stake in shares of ProShares Ultra Russell 2000 during the third quarter valued at about $1,524,000. Finally, Toth Financial Advisory Corp boosted its holdings in shares of ProShares Ultra Russell 2000 by 19.6% in the 3rd quarter. Toth Financial Advisory Corp now owns 69,523 shares of the company’s stock valued at $3,223,000 after buying an additional 11,394 shares in the last quarter.
About ProShares Ultra Russell 2000
The ProShares Ultra Russell2000 (UWM) is an exchange-traded fund that is based on the Russell 2000 index. The fund provides 2x leveraged exposure to a market-cap-weighted index of US small-cap companies. UWM was launched on Jan 23, 2007 and is managed by ProShares.