ProShares UltraPro Russell2000 (NYSEARCA:URTY) Trading Down 2.4% – Here’s What Happened

Shares of ProShares UltraPro Russell2000 (NYSEARCA:URTY) dropped 2.4% on Tuesday . The company traded as low as $36.25 and last traded at $36.76. Approximately 755,950 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 1,192,467 shares. The stock had previously closed at $37.67.

ProShares UltraPro Russell2000 Stock Down 2.0 %

The stock has a 50 day simple moving average of $46.97 and a two-hundred day simple moving average of $51.57. The stock has a market capitalization of $308.89 million, a P/E ratio of 14.00 and a beta of 3.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of URTY. Morse Asset Management Inc boosted its stake in shares of ProShares UltraPro Russell2000 by 7.4% during the 4th quarter. Morse Asset Management Inc now owns 3,205 shares of the company’s stock worth $158,000 after acquiring an additional 222 shares during the period. US Bancorp DE boosted its stake in shares of ProShares UltraPro Russell2000 by 10,040.0% during the 4th quarter. US Bancorp DE now owns 507 shares of the company’s stock worth $25,000 after acquiring an additional 502 shares during the period. JPMorgan Chase & Co. bought a new position in shares of ProShares UltraPro Russell2000 during the 3rd quarter worth approximately $49,000. Stratos Wealth Partners LTD. boosted its stake in shares of ProShares UltraPro Russell2000 by 23.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 13,079 shares of the company’s stock worth $644,000 after acquiring an additional 2,500 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of ProShares UltraPro Russell2000 by 7.5% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 49,605 shares of the company’s stock worth $2,441,000 after acquiring an additional 3,450 shares during the period.

ProShares UltraPro Russell2000 Company Profile

The ProShares UltraPro Russell2000 (URTY) is an exchange-traded fund that is based on the Russell 2000 index. The fund provides 3x leveraged exposure to a market-cap-weighted index of US small-cap companies. URTY was launched on Feb 11, 2010 and is managed by ProShares.