ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up to $41.39

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Shares of ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped up before the market opened on Tuesday . The stock had previously closed at $40.04, but opened at $41.39. ProShares UltraPro Short Dow30 shares last traded at $42.70, with a volume of 2,158,043 shares.

The stock’s 50 day simple moving average is $43.07 and its two-hundred day simple moving average is $46.89.

A number of hedge funds and other institutional investors have recently made changes to their positions in SDOW. Weaver Consulting Group bought a new position in ProShares UltraPro Short Dow30 during the 3rd quarter worth about $35,000. Institutional & Family Asset Management LLC bought a new stake in shares of ProShares UltraPro Short Dow30 in the second quarter valued at about $63,000. Bank of Montreal Can acquired a new position in shares of ProShares UltraPro Short Dow30 during the second quarter worth about $310,000. SG Americas Securities LLC acquired a new position in shares of ProShares UltraPro Short Dow30 during the third quarter worth about $332,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of ProShares UltraPro Short Dow30 by 53.8% during the third quarter. Tower Research Capital LLC TRC now owns 41,727 shares of the exchange traded fund’s stock worth $1,926,000 after buying an additional 14,605 shares in the last quarter.

ProShares UltraPro Short Dow30 Company Profile (NYSEARCA:SDOW)

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.

Read More: Neutral Rating

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