ProShares Short S&P500 (NYSEARCA:SH) Trading 1.4% Higher – Should You Buy?

ProShares Short S&P500 (NYSEARCA:SH) were up 1.4% on Friday . The stock traded as high as $41.88 and last traded at $41.84. Approximately 1,585,430 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 5,871,920 shares. The stock had previously closed at $41.25.

ProShares Short S&P500 Price Performance

The stock has a 50-day moving average price of $42.35 and a two-hundred day moving average price of $44.20.

Hedge Funds Weigh In On ProShares Short S&P500

Several hedge funds and other institutional investors have recently modified their holdings of SH. Sanctuary Advisors LLC purchased a new position in shares of ProShares Short S&P500 in the 3rd quarter valued at approximately $111,000. Discipline Wealth Solutions LLC bought a new position in ProShares Short S&P500 in the third quarter worth $743,000. Virtue Capital Management LLC lifted its position in ProShares Short S&P500 by 172.6% during the third quarter. Virtue Capital Management LLC now owns 113,206 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 71,672 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of ProShares Short S&P500 during the 3rd quarter valued at $10,007,000. Finally, M&T Bank Corp purchased a new stake in shares of ProShares Short S&P500 in the 3rd quarter worth about $233,000.

About ProShares Short S&P500

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.