ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Up 2.7% – Still a Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s share price were up 2.7% on Friday . The stock traded as high as $49.24 and last traded at $49.19. Approximately 876,645 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,443,951 shares. The stock had previously closed at $47.90.

ProShares UltraPro Short Dow30 Trading Up 2.3 %

The company’s 50-day simple moving average is $48.37 and its 200-day simple moving average is $55.91.

Institutional Trading of ProShares UltraPro Short Dow30

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in ProShares UltraPro Short Dow30 by 19.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock valued at $43,000 after buying an additional 543 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of ProShares UltraPro Short Dow30 by 76.9% during the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after buying an additional 3,000 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of ProShares UltraPro Short Dow30 in the third quarter valued at about $137,000. Flow Traders U.S. LLC grew its stake 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 acquiring an additional 9,090 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in ProShares UltraPro Short Dow30 during the third quarter worth about $727,000.

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.