ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Up 3.5% – What’s Next?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s stock price were up 3.5% during trading on Wednesday . The stock traded as high as $50.79 and last traded at $50.40. Approximately 3,221,061 shares were traded during trading, a decline of 7% from the average daily volume of 3,459,239 shares. The stock had previously closed at $48.68.

ProShares UltraPro Short Dow30 Stock Down 3.5 %

The business’s 50-day moving average is $48.50 and its two-hundred day moving average is $56.74.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

A number of hedge funds have recently modified their holdings of the business. Hollencrest Capital Management raised its stake in ProShares UltraPro Short Dow30 by 76.9% during the 2nd quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock valued at $115,000 after acquiring an additional 3,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of ProShares UltraPro Short Dow30 in the third quarter valued at approximately $137,000. Flow Traders U.S. LLC raised its stake 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 last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of ProShares UltraPro Short Dow30 during the third quarter worth $727,000.

About ProShares UltraPro Short Dow30

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.