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

Shares of ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped down before the market opened on Wednesday . The stock had previously closed at $50.91, but opened at $48.64. ProShares UltraPro Short Dow30 shares last traded at $48.40, with a volume of 1,127,390 shares trading hands.

ProShares UltraPro Short Dow30 Stock Performance

The business’s 50 day simple moving average is $47.97 and its two-hundred day simple moving average is $54.21.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDOW. JPMorgan Chase & Co. lifted its stake in ProShares UltraPro Short Dow30 by 19.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 543 shares during the period. Hollencrest Capital Management lifted its position in 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 valued at $115,000 after purchasing an additional 3,000 shares during the period. Flow Traders U.S. LLC boosted its holdings 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 worth $685,000 after purchasing an additional 9,090 shares during the last quarter. XTX Topco Ltd bought a new stake in ProShares UltraPro Short Dow30 in the 3rd quarter worth approximately $137,000. Finally, Walleye Capital LLC purchased a new stake in ProShares UltraPro Short Dow30 during the 3rd quarter valued at $727,000.

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.