ProShares UltraShort Utilities (NYSEARCA:SDP) Shares Set to Reverse Split on Thursday, May 28th

ProShares UltraShort Utilities (NYSEARCA:SDP)’s stock is going to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

ProShares UltraShort Utilities Stock Down 0.7%

Shares of NYSEARCA:SDP traded down $0.08 during mid-day trading on Tuesday, reaching $10.95. 2,706 shares of the stock were exchanged, compared to its average volume of 13,047. ProShares UltraShort Utilities has a one year low of $9.89 and a one year high of $15.37. The stock’s 50 day simple moving average is $10.61 and its 200-day simple moving average is $11.48.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned approximately 45.58% of ProShares UltraShort Utilities as of its most recent filing with the Securities & Exchange Commission.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.