ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Trading 5.5% Higher – Here’s Why

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s stock price traded up 5.5% during mid-day trading on Friday . The company traded as high as $47.99 and last traded at $48.11. 1,956,967 shares were traded during mid-day trading, a decline of 20% from the average session volume of 2,446,529 shares. The stock had previously closed at $45.60.

ProShares UltraPro Short Dow30 Trading Up 5.3 %

The stock’s fifty day simple moving average is $47.36 and its 200-day simple moving average is $50.89.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of ProShares UltraPro Short Dow30 by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock valued at $43,000 after buying an additional 543 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at about $39,000. Werba Rubin Papier Wealth Management acquired a new position in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at about $344,000. Waverly Advisors LLC acquired a new position in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at about $431,000. Finally, Flow Traders U.S. LLC raised its position in shares of 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 valued at $685,000 after buying an additional 9,090 shares during 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.