ProShares UltraShort Financials (NYSEARCA:SKF) Shares to Reverse Split on Thursday, November 7th

ProShares UltraShort Financials (NYSEARCA:SKF) shares are scheduled to reverse split before the market opens on Thursday, November 7th. The 1-4 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.

ProShares UltraShort Financials Stock Down 0.1 %

ProShares UltraShort Financials stock opened at $9.70 on Friday. The company has a 50 day moving average price of $10.09 and a 200-day moving average price of $11.41. ProShares UltraShort Financials has a fifty-two week low of $9.18 and a fifty-two week high of $19.49.

Institutional Investors Weigh In On ProShares UltraShort Financials

An institutional investor recently raised its position in ProShares UltraShort Financials stock. Csenge Advisory Group increased its position in shares of ProShares UltraShort Financials (NYSEARCA:SKF) by 23.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,550 shares of the company’s stock after buying an additional 38,982 shares during the period. Csenge Advisory Group owned about 15.30% of ProShares UltraShort Financials worth $2,441,000 at the end of the most recent quarter.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.