ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Trading Down 3.7% – Here’s What Happened

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) shares dropped 3.7% during trading on Thursday . The company traded as low as $46.72 and last traded at $46.80. Approximately 4,225,381 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 3,504,136 shares. The stock had previously closed at $48.61.

ProShares UltraPro Short Dow30 Trading Down 3.1 %

The business’s 50-day simple moving average is $51.71 and its 200-day simple moving average is $59.64.

Institutional Trading of ProShares UltraPro Short Dow30

Hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management increased its stake in shares of ProShares UltraPro Short Dow30 by 76.9% during the 2nd 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 during the last quarter. Flow Traders U.S. LLC increased its stake in shares of ProShares UltraPro Short Dow30 by 21.0% during 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 during the period. XTX Topco Ltd acquired a new stake in ProShares UltraPro Short Dow30 during the 3rd quarter worth approximately $137,000. Finally, Walleye Capital LLC acquired a new position in ProShares UltraPro Short Dow30 in the 3rd quarter valued at $727,000.

About ProShares UltraPro Short Dow30

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.