ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – What’s Next?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $44.32, but opened at $45.45. ProShares UltraPro Short Dow30 shares last traded at $45.39, with a volume of 536,163 shares traded.

ProShares UltraPro Short Dow30 Price Performance

The stock has a 50-day simple moving average of $47.45 and a 200-day simple moving average of $51.80.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new position in shares of ProShares UltraPro Short Dow30 in the third quarter valued at $727,000. Flow Traders U.S. LLC grew its position in shares of 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 valued at $685,000 after purchasing an additional 9,090 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of ProShares UltraPro Short Dow30 in the third quarter valued at $137,000. Werba Rubin Papier Wealth Management purchased a new position in shares of ProShares UltraPro Short Dow30 in the fourth quarter valued at $344,000. Finally, JPMorgan Chase & Co. grew its position in shares of 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 valued at $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.