ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Trading 3.5% Higher – Time to Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) shot up 3.5% during mid-day trading on Wednesday . The stock traded as high as $50.79 and last traded at $50.40. 3,221,061 shares were traded during trading, a decline of 7% from the average session volume of 3,459,239 shares. The stock had previously closed at $48.68.

ProShares UltraPro Short Dow30 Trading Up 7.8 %

The company’s 50-day moving average is $48.56 and its 200-day moving average is $56.94.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several large investors have recently modified their holdings of SDOW. Hollencrest Capital Management raised its stake 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 worth $115,000 after buying an additional 3,000 shares during the last quarter. XTX Topco Ltd bought a new position in ProShares UltraPro Short Dow30 during the third quarter worth $137,000. Flow Traders U.S. LLC raised its stake in ProShares UltraPro Short Dow30 by 21.0% during the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock worth $685,000 after buying an additional 9,090 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in ProShares UltraPro Short Dow30 during the third quarter worth $727,000.

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.