ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Down – Should You Sell?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped down prior to trading on Wednesday . The stock had previously closed at $50.91, but opened at $48.64. ProShares UltraPro Short Dow30 shares last traded at $48.40, with a volume of 1,127,390 shares.

ProShares UltraPro Short Dow30 Stock Down 3.9 %

The firm has a fifty day moving average price of $47.93 and a two-hundred day moving average price of $54.29.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management grew its stake in ProShares UltraPro Short Dow30 by 76.9% in the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after purchasing an additional 3,000 shares in the last quarter. Walleye Capital LLC bought a new position in ProShares UltraPro Short Dow30 in the third quarter worth approximately $727,000. Flow Traders U.S. LLC grew its stake in ProShares UltraPro Short Dow30 by 21.0% in the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock worth $685,000 after purchasing an additional 9,090 shares in the last quarter. XTX Topco Ltd bought a new position in ProShares UltraPro Short Dow30 in the third quarter worth approximately $137,000. Finally, JPMorgan Chase & Co. grew its stake in ProShares UltraPro Short Dow30 by 19.8% in the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 543 shares in the last quarter.

ProShares UltraPro Short Dow30 Company Profile

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.