ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Down 3.2% – Time to Sell?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) fell 3.2% during mid-day trading on Friday . The company traded as low as $50.73 and last traded at $50.73. 2,175,946 shares changed hands during trading, a decline of 37% from the average session volume of 3,465,915 shares. The stock had previously closed at $52.41.

ProShares UltraPro Short Dow30 Trading Down 3.5 %

The company has a 50-day moving average price of $48.50 and a 200-day moving average price of $56.61.

Institutional Trading of ProShares UltraPro Short Dow30

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new position in shares of ProShares UltraPro Short Dow30 in the 3rd quarter valued at $727,000. Flow Traders U.S. LLC lifted its position in ProShares UltraPro Short Dow30 by 21.0% in the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock valued at $685,000 after acquiring an additional 9,090 shares during the last quarter. XTX Topco Ltd acquired a new position in ProShares UltraPro Short Dow30 in the third quarter valued at $137,000. Finally, Hollencrest Capital Management grew its holdings in shares of ProShares UltraPro Short Dow30 by 76.9% during the second 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 during the last quarter.

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.