Meridian Wealth Management LLC Acquires New Stake in ProShares Ultra Russell2000 (NYSEARCA:UWM)

Meridian Wealth Management LLC acquired a new stake in shares of ProShares Ultra Russell2000 (NYSEARCA:UWM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,946 shares of the company’s stock, valued at approximately $1,714,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in ProShares Ultra Russell2000 by 62.7% during the 3rd quarter. Larson Financial Group LLC now owns 2,603 shares of the company’s stock valued at $112,000 after buying an additional 1,003 shares in the last quarter. Peterson Financial Group Inc. bought a new position in ProShares Ultra Russell2000 during the 3rd quarter valued at approximately $147,000. Arizona PSPRS Trust bought a new position in ProShares Ultra Russell2000 during the 3rd quarter valued at approximately $215,000. US Bancorp DE bought a new position in ProShares Ultra Russell2000 during the 4th quarter valued at approximately $224,000. Finally, Sigma Planning Corp purchased a new stake in ProShares Ultra Russell2000 during the 4th quarter valued at $225,000.

ProShares Ultra Russell2000 Trading Down 5.5 %

Shares of UWM opened at $36.80 on Tuesday. The business’s fifty day simple moving average is $42.55 and its two-hundred day simple moving average is $43.54. ProShares Ultra Russell2000 has a 12 month low of $33.57 and a 12 month high of $51.87. The company has a market cap of $362.48 million, a price-to-earnings ratio of 16.43 and a beta of 2.33.

ProShares Ultra Russell2000 Profile

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.