“On March 5, the ProShares Ultra Russell2000 Value ETF (NYSE:UVT) broke from a complex quadruple-top that had taken over six months to develop. On March 15, I noted the breakout and targeted (NYSE:UVT) to a run to $28 to $30. It actually made it all the way to $32,” Sam Collins Reports From Options Zone.

Collins goes on to say, “In the last month, (NYSE:UVT) has pulled back to its original breakout at $24 where those who are bullish on the stock market may want to buy this high-performing ETF with a target of $30. Note the stochastic buy and how it rallied from its 200-day moving average.”

“A word of caution: This is “for traders only,” as the SEC has determined that “ultra funds” are not good long-term investments and are most appropriate for short-term trades. Because it carries greater risk than an ordinary ETF, be sure to use a stop-loss. Finally, the margin requirement for most leveraged ETFs is 100%, but check with your broker before entering an order,” Collins Reports.

Here are some more details on the ProShares Ultra Russell2000 Value ETF (NYSE:UVT) below:

ProShares Ultra Russell2000 Value ETF (NYSE:UVT)

The investment seeks daily investment results, before fees and expenses, which correspond to twice the daily performance of the Russell 2000 Value index. The fund invests in equity securities and derivatives that advisors believes, in combination, should have similar daily performance characteristics as twice (200%) the daily return of the index. It invests typically the rest of the assets in money market instruments. The fund is nondiversified.

UVT