ProShares UltraPro Russell2000 (NYSEARCA:URTY) Shares Gap Down – Here’s What Happened

ProShares UltraPro Russell2000 (NYSEARCA:URTY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $51.35, but opened at $49.00. ProShares UltraPro Russell2000 shares last traded at $49.48, with a volume of 298,652 shares changing hands.

ProShares UltraPro Russell2000 Price Performance

The business’s 50-day simple moving average is $53.11 and its two-hundred day simple moving average is $52.63.

Institutional Investors Weigh In On ProShares UltraPro Russell2000

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in shares of ProShares UltraPro Russell2000 by 10,040.0% in the fourth quarter. US Bancorp DE now owns 507 shares of the company’s stock worth $25,000 after acquiring an additional 502 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of ProShares UltraPro Russell2000 during the third quarter worth $30,000. JPMorgan Chase & Co. acquired a new stake in shares of ProShares UltraPro Russell2000 in the third quarter valued at about $49,000. Morse Asset Management Inc purchased a new position in shares of ProShares UltraPro Russell2000 in the third quarter worth about $156,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of ProShares UltraPro Russell2000 in the fourth quarter valued at approximately $255,000.

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.