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SRTY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is ProShares UltraPro Short Russell2000 (SRTY) stock moving?
No news items or SEC filings were found for SRTY in the review window, so this read rests only on the 14 trading sessions of price and volume data. SRTY is a 3x inverse leveraged fund on the Russell 2000, so it gains when small-cap stocks fall. The strongest event in the data was Nov 5, when the fund rose from a 25.08 prior close to 28.51 (+13.7%) on 5.69M shares, about 2.5 times the typical daily volume of roughly 1.1M to 2.4M. Nov 6 held most of that gain at 27.77 on 3.39M shares, but Nov 9 fell to 25.10 with an intraday low of 24.70, and Nov 10 closed at 25.61 on 2.01M shares. Over the 30-day window the price moved from about 27.10 to 25.61, a decline of roughly 5.5%, inside a range of 24.47 to 28.82. The pattern suggests that sharp reversals are driven by swings in small-cap sentiment rather than by company-specific news. Because the fund resets daily, its returns over longer periods can differ noticeably from the simple inverse of the index, so the data supports a cautious, short-term read only.
About ProShares UltraPro Short Russell2000
ProShares UltraPro Short Russell2000 is an ETF that tries to deliver three times the opposite (-3x) of the Russell 2000 small-cap index's return each day. It was launched in 2010 and is built for short-term trading or hedging, not for long-term holding.
How the fund works
The fund gets its -3x daily exposure to the Russell 2000 mainly through swap contracts with banks, and it can also use futures. It keeps most of its assets in cash and Treasury bills, which is where its quarterly distributions come from. Because the leverage resets every day, compounding can make returns over weeks or months drift far from -3x the index, especially when markets swing a lot. Over the long run it has lost heavily: its average yearly return since launch is roughly -44%. The expense ratio is about 0.95%, and assets are small, roughly $70–85 million. It also carried out a 1-for-4 reverse split in November 2025.
What usually moves SRTY
- Daily moves in US small-cap stocks
- Interest rate and Fed policy expectations
- Recession fears and credit conditions
- Market volatility and daily compounding decay
- Overall risk appetite among investors