Truist Financial Corp Invests $1.14 Million in ProShares Ultra Russell2000 (NYSEARCA:UWM)

Truist Financial Corp purchased a new position in shares of ProShares Ultra Russell2000 (NYSEARCA:UWM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 27,145 shares of the company’s stock, valued at approximately $1,136,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UWM. Larson Financial Group LLC boosted its holdings in ProShares Ultra Russell2000 by 62.7% during the third quarter. Larson Financial Group LLC now owns 2,603 shares of the company’s stock worth $112,000 after purchasing an additional 1,003 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in ProShares Ultra Russell2000 during the third quarter worth about $147,000. Arizona PSPRS Trust purchased a new position in ProShares Ultra Russell2000 during the third quarter worth about $215,000. Principal Securities Inc. purchased a new position in ProShares Ultra Russell2000 during the fourth quarter worth about $240,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares Ultra Russell2000 during the third quarter worth about $286,000.

ProShares Ultra Russell2000 Stock Performance

ProShares Ultra Russell2000 stock opened at $38.94 on Friday. ProShares Ultra Russell2000 has a fifty-two week low of $33.57 and a fifty-two week high of $51.87. The stock has a market cap of $383.56 million, a PE ratio of 16.43 and a beta of 2.33. The firm’s 50-day simple moving average is $42.66 and its 200 day simple moving average is $43.49.

About ProShares Ultra Russell2000

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.