ProShares Short S&P500 (NYSEARCA:SH) Shares Gap Up – Should You Buy?

ProShares Short S&P500 (NYSEARCA:SH)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $44.14, but opened at $45.69. ProShares Short S&P500 shares last traded at $45.82, with a volume of 2,082,488 shares changing hands.

ProShares Short S&P500 Stock Up 3.5 %

The stock has a 50 day moving average of $42.74 and a two-hundred day moving average of $42.68.

ProShares Short S&P500 Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a dividend of $0.3115 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Short S&P500

Several large investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in shares of ProShares Short S&P500 by 5.8% in the 3rd quarter. Captrust Financial Advisors now owns 16,288 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 889 shares during the period. Hilltop Holdings Inc. acquired a new position in shares of ProShares Short S&P500 in the 3rd quarter worth approximately $828,000. Integrated Wealth Concepts LLC bought a new stake in shares of ProShares Short S&P500 during the third quarter worth $1,710,000. M&T Bank Corp acquired a new stake in ProShares Short S&P500 in the 3rd quarter valued at about $233,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of ProShares Short S&P500 in the third quarter valued at approximately $10,007,000.

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.