ProShares UltraPro Russell2000 (NYSEARCA:URTY) Shares Down 2.4% – Here’s Why

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 were traded during 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 Price Performance

The stock has a 50 day simple moving average of $47.20 and a two-hundred day simple moving average of $51.66. The company has a market cap of $301.43 million, a price-to-earnings ratio of 14.00 and a beta of 3.53.

Hedge Funds Weigh In On ProShares UltraPro Russell2000

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Variant Private Wealth LLC acquired a new position in shares of ProShares UltraPro Russell2000 in the 4th quarter valued at $4,322,000. Quadrature Capital Ltd purchased a new stake in shares of ProShares UltraPro Russell2000 in the 3rd quarter valued at $4,157,000. MFG Wealth Management Inc. purchased a new stake in shares of ProShares UltraPro Russell2000 in the 4th quarter valued at $3,267,000. Polymer Capital Management HK LTD purchased a new stake in shares of ProShares UltraPro Russell2000 in the 4th quarter valued at $2,953,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of ProShares UltraPro Russell2000 in the 3rd quarter valued at $1,896,000.

About ProShares UltraPro Russell2000

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.