ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – Still a Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $48.63, but opened at $49.80. ProShares UltraPro Short Dow30 shares last traded at $49.97, with a volume of 597,130 shares trading hands.

ProShares UltraPro Short Dow30 Stock Performance

The company has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $59.86.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

A number of hedge funds have recently made changes to their positions in SDOW. XTX Topco Ltd acquired a new stake in ProShares UltraPro Short Dow30 during the 3rd quarter worth about $137,000. Flow Traders U.S. LLC lifted its holdings in shares of ProShares UltraPro Short Dow30 by 21.0% during the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock worth $685,000 after purchasing an additional 9,090 shares during the period. Walleye Capital LLC purchased a new stake in ProShares UltraPro Short Dow30 in the third quarter valued at approximately $727,000. Finally, Hollencrest Capital Management increased its holdings in ProShares UltraPro Short Dow30 by 76.9% in the 2nd quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after buying an additional 3,000 shares during the period.

ProShares UltraPro Short Dow30 Company Profile

ProShares UltraPro Short Dow30 (the Fund) seeks daily investment results that correspond to three times (300%) the inverse (opposite) of the daily performance of the Dow Jones Industrial Average (the Index). The Index is a price-weighted index maintained by editors of The Wall Street Journal. The Index includes 30 large-cap, United States stocks, excluding utility and transportation companies.