ProShares UltraShort Russell 2000 (NYSEARCA:TWM) Shares Cross Above 50 Day Moving Average – Time to Sell?

ProShares UltraShort Russell 2000 (NYSEARCA:TWM) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $23.22 and traded as high as $24.37. ProShares UltraShort Russell 2000 shares last traded at $23.98, with a volume of 1,924,782 shares.

ProShares UltraShort Russell 2000 Trading Up 3.4%

The firm’s 50-day moving average price is $23.22 and its two-hundred day moving average price is $24.75.

Hedge Funds Weigh In On ProShares UltraShort Russell 2000

An institutional investor recently raised its position in ProShares UltraShort Russell 2000 stock. Hillsdale Investment Management Inc. grew its position in ProShares UltraShort Russell 2000 (NYSEARCA:TWM) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,302 shares of the company’s stock after buying an additional 12,260 shares during the period. Hillsdale Investment Management Inc. owned 4.17% of ProShares UltraShort Russell 2000 worth $2,456,000 as of its most recent SEC filing.

About ProShares UltraShort Russell 2000

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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.