Meridian Wealth Management LLC Makes New $1.71 Million Investment in ProShares Ultra Russell2000 (NYSEARCA:UWM)

Meridian Wealth Management LLC acquired a new position in ProShares Ultra Russell2000 (NYSEARCA:UWM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 40,946 shares of the company’s stock, valued at approximately $1,714,000. Meridian Wealth Management LLC owned 0.74% of ProShares Ultra Russell2000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of ProShares Ultra Russell2000 by 62.7% in the 3rd quarter. Larson Financial Group LLC now owns 2,603 shares of the company’s stock worth $112,000 after acquiring an additional 1,003 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of ProShares Ultra Russell2000 in the 3rd quarter worth approximately $147,000. Arizona PSPRS Trust bought a new position in shares of ProShares Ultra Russell2000 in the 3rd quarter worth approximately $215,000. US Bancorp DE bought a new position in shares of ProShares Ultra Russell2000 in the 4th quarter worth approximately $224,000. Finally, Sigma Planning Corp bought a new position in shares of ProShares Ultra Russell2000 in the 4th quarter worth approximately $225,000.

ProShares Ultra Russell2000 Stock Performance

Shares of NYSEARCA:UWM opened at $36.80 on Tuesday. ProShares Ultra Russell2000 has a 52-week low of $33.57 and a 52-week high of $51.87. The firm has a market capitalization of $362.48 million, a P/E ratio of 16.43 and a beta of 2.33. The stock has a 50 day moving average price of $42.55 and a 200-day moving average price of $43.54.

ProShares Ultra Russell2000 Profile

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.