ProShares UltraShort Dow30 Shares Scheduled to Reverse Split on Thursday, November 19th (NYSEARCA:DXD)

ProShares UltraShort Dow30 (NYSEARCA:DXD) shares are going to reverse split before the market opens on Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.

ProShares UltraShort Dow30 Stock Down 6.2%

NYSEARCA:DXD traded down $1.10 on Wednesday, hitting $16.60. The stock had a trading volume of 6,475,280 shares, compared to its average volume of 2,499,620. The business’s fifty day moving average is $17.38 and its 200 day moving average is $18.56. ProShares UltraShort Dow30 has a 52 week low of $15.75 and a 52 week high of $23.29.

Hedge Funds Weigh In On ProShares UltraShort Dow30

Institutional investors have recently modified their holdings of the company. Group One Trading LLC grew its position in ProShares UltraShort Dow30 by 2,264.8% in the 1st quarter. Group One Trading LLC now owns 5,439 shares of the exchange traded fund’s stock valued at $120,000 after purchasing an additional 5,209 shares during the period. Squarepoint Ops LLC bought a new stake in ProShares UltraShort Dow30 during the 2nd quarter valued at $417,000. Finally, IMC Chicago LLC acquired a new position in ProShares UltraShort Dow30 during the first quarter worth $2,189,000.

About ProShares UltraShort Dow30

ProShares UltraShort Dow30 (the Fund), formerly UltraShort Dow30 ProShares, seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones Industrial Average (DJIA). The DJIA is a price-weighted index maintained by editors of The Wall Street Journal. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. Components are selected through a discretionary process with no predetermined criteria except that components should be established United States companies.