ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $24.57 and traded as low as $23.57. ProShares UltraPro Short Dow30 shares last traded at $23.83, with a volume of 4,736,487 shares.

ProShares UltraPro Short Dow30 Stock Down 6.5%

The firm’s fifty day moving average is $24.57 and its 200-day moving average is $27.13.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several large investors have recently modified their holdings of the stock. Simplex Trading LLC acquired a new position in ProShares UltraPro Short Dow30 in the third quarter worth about $234,000. Squarepoint Ops LLC bought a new stake in ProShares UltraPro Short Dow30 in the second quarter valued at about $1,390,000. Parallel Advisors LLC increased its holdings in ProShares UltraPro Short Dow30 by 261.9% in the first quarter. Parallel Advisors LLC now owns 1,737 shares of the exchange traded fund’s stock valued at $61,000 after buying an additional 1,257 shares during the last quarter. Group One Trading LLC raised its stake in ProShares UltraPro Short Dow30 by 335.7% during the first quarter. Group One Trading LLC now owns 58,829 shares of the exchange traded fund’s stock valued at $2,071,000 after buying an additional 45,328 shares in the last quarter. Finally, IMC Chicago LLC raised its stake in ProShares UltraPro Short Dow30 by 32.5% during the first quarter. IMC Chicago LLC now owns 140,711 shares of the exchange traded fund’s stock valued at $4,954,000 after buying an additional 34,501 shares in the last quarter.

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. The Fund invests in financial instruments whose value is derived from the value of an underlying asset, interest rate or index.