ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up – Here’s Why

Shares of ProShares UltraShort S&P500 (NYSEARCA:SDS) gapped up prior to trading on Monday . The stock had previously closed at $20.61, but opened at $21.20. ProShares UltraShort S&P500 shares last traded at $21.98, with a volume of 12,351,741 shares trading hands.

ProShares UltraShort S&P500 Stock Performance

The stock has a 50-day moving average price of $19.14 and a 200-day moving average price of $19.97.

Institutional Investors Weigh In On ProShares UltraShort S&P500

A number of institutional investors have recently modified their holdings of SDS. CoreCap Advisors LLC acquired a new position in ProShares UltraShort S&P500 in the fourth quarter valued at $28,000. Capital Investment Advisory Services LLC acquired a new position in shares of ProShares UltraShort S&P500 in the 4th quarter valued at about $32,000. Blair William & Co. IL acquired a new position in shares of ProShares UltraShort S&P500 in the 4th quarter valued at about $49,000. JPMorgan Chase & Co. boosted its position in shares of ProShares UltraShort S&P500 by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,085 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 820 shares in the last quarter. Finally, Beacon Financial Group acquired a new stake in ProShares UltraShort S&P500 during the fourth quarter worth approximately $197,000.

About ProShares UltraShort S&P500

ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.