ProShares Short S&P 500 (NYSEARCA:SH) Hits New 1-Year Low – Here’s Why

ProShares Short S&P 500 (NYSEARCA:SH)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.96 and last traded at $33.9550, with a volume of 1905808 shares trading hands. The stock had previously closed at $34.22.

ProShares Short S&P 500 Price Performance

The firm has a fifty day moving average of $36.35 and a 200-day moving average of $36.27.

Hedge Funds Weigh In On ProShares Short S&P 500

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in ProShares Short S&P 500 by 255.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,394 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 5,314 shares in the last quarter. NewEdge Advisors LLC grew its position in ProShares Short S&P 500 by 503.7% in the 2nd quarter. NewEdge Advisors LLC now owns 6,562 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 5,475 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of ProShares Short S&P 500 in the second quarter valued at approximately $595,000. Raymond James Financial Inc. bought a new position in ProShares Short S&P 500 during the 2nd quarter valued at $77,000. Finally, WFA of San Diego LLC acquired a new position in ProShares Short S&P 500 during the second quarter worth about $36,000.

ProShares Short S&P 500 Company Profile

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.