ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Trading 3.5% Higher – Time to Buy?

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

ProShares UltraPro Short Dow30 Trading Up 7.8 %

The firm’s 50-day simple moving average is $48.56 and its 200 day simple moving average is $56.94.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

A number of large investors have recently modified their holdings of the business. Hollencrest Capital Management grew its position in shares of 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 worth $115,000 after purchasing an additional 3,000 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of ProShares UltraPro Short Dow30 during the 3rd quarter worth approximately $137,000. Flow Traders U.S. LLC grew its position in shares of ProShares UltraPro Short Dow30 by 21.0% during the 3rd 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 in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of ProShares UltraPro Short Dow30 during the 3rd quarter worth approximately $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.