ProShares UltraShort Financials (NYSEARCA:SKF) Shares to Reverse Split on Thursday, November 7th

ProShares UltraShort Financials (NYSEARCA:SKF) shares are going to reverse split on the morning of Thursday, November 7th. The 1-4 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 6th.

ProShares UltraShort Financials Price Performance

Shares of NYSEARCA SKF opened at $9.70 on Friday. ProShares UltraShort Financials has a fifty-two week low of $9.18 and a fifty-two week high of $19.49. The business has a 50-day simple moving average of $10.09 and a two-hundred day simple moving average of $11.41.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares UltraShort Financials stock. Csenge Advisory Group raised its position in shares of ProShares UltraShort Financials (NYSEARCA:SKF) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,550 shares of the company’s stock after purchasing an additional 38,982 shares during the quarter. Csenge Advisory Group owned 15.30% of ProShares UltraShort Financials worth $2,441,000 at the end of the most recent reporting period.

ProShares UltraShort Financials Company Profile

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.