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

ProShares UltraShort Financials (NYSEARCA:SKF)’s stock is set 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 Stock Up 1.3 %

Shares of SKF stock opened at $9.83 on Tuesday. ProShares UltraShort Financials has a 52 week low of $9.18 and a 52 week high of $18.79. The firm’s 50-day simple moving average is $10.08 and its two-hundred day simple moving average is $11.37.

Institutional Trading of ProShares UltraShort Financials

A hedge fund recently raised its stake in ProShares UltraShort Financials stock. Csenge Advisory Group grew its holdings in shares of ProShares UltraShort Financials (NYSEARCA:SKF) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,550 shares of the company’s stock after acquiring an additional 38,982 shares during the quarter. Csenge Advisory Group owned about 15.30% of ProShares UltraShort Financials worth $2,441,000 at the end of the most recent quarter.

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.