ProShares Short High Yield (NYSEARCA:SJB) Stock Price Down 0.2% – Here’s Why

ProShares Short High Yield (NYSEARCA:SJB)’s share price traded down 0.2% on Tuesday . The stock traded as low as $16.06 and last traded at $16.08. 947,455 shares changed hands during mid-day trading, an increase of 629% from the average session volume of 129,878 shares. The stock had previously closed at $16.12.

ProShares Short High Yield Stock Performance

The firm’s 50-day simple moving average is $16.04 and its 200-day simple moving average is $16.20.

ProShares Short High Yield Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th will be issued a dividend of $0.0955 per share. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Investors Weigh In On ProShares Short High Yield

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SJB. Elevated Capital Advisors LLC increased its holdings in ProShares Short High Yield by 29.8% during the 4th quarter. Elevated Capital Advisors LLC now owns 35,274 shares of the company’s stock valued at $570,000 after purchasing an additional 8,107 shares during the period. Park Square Financial Group LLC bought a new stake in shares of ProShares Short High Yield in the 4th quarter worth approximately $168,000. Fourpath Capital Management LLC increased its stake in shares of ProShares Short High Yield by 4.4% during the fourth quarter. Fourpath Capital Management LLC now owns 370,174 shares of the company’s stock valued at $5,978,000 after buying an additional 15,652 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of ProShares Short High Yield by 254.2% during the fourth quarter. Jane Street Group LLC now owns 132,607 shares of the company’s stock valued at $2,142,000 after acquiring an additional 95,164 shares in the last quarter.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years.