ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up to $29.38

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW – Get Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $29.38, but opened at $30.83. ProShares UltraPro Short Dow30 shares last traded at $30.82, with a volume of 4,994,288 shares.

ProShares UltraPro Short Dow30 Trading Down 3.4 %

The stock’s 50-day moving average is $26.28 and its two-hundred day moving average is $29.43.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in ProShares UltraPro Short Dow30 in the 2nd quarter valued at approximately $33,000. JPMorgan Chase & Co. raised its holdings in shares of ProShares UltraPro Short Dow30 by 70.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,476 shares of the exchange traded fund’s stock valued at $92,000 after purchasing an additional 1,022 shares in the last quarter. UBS Group AG raised its holdings in shares of ProShares UltraPro Short Dow30 by 14.3% in the 2nd quarter. UBS Group AG now owns 4,637 shares of the exchange traded fund’s stock valued at $172,000 after purchasing an additional 581 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of ProShares UltraPro Short Dow30 in the 3rd quarter valued at $229,000. Finally, Brookstone Capital Management acquired a new stake in shares of ProShares UltraPro Short Dow30 in the 3rd quarter valued at $304,000.

About ProShares UltraPro Short Dow30

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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.