ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Down to $35.31

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $35.31, but opened at $34.35. ProShares UltraShort S&P500 shares last traded at $34.17, with a volume of 1,786,210 shares.

ProShares UltraShort S&P500 Stock Performance

The company has a fifty day moving average price of $36.50 and a two-hundred day moving average price of $36.08.

Institutional Trading of ProShares UltraShort S&P500

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canal Capital Management LLC grew its holdings in shares of ProShares UltraShort S&P500 by 1.3% during the third quarter. Canal Capital Management LLC now owns 23,857 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 312 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of ProShares UltraShort S&P500 by 4.8% in the first quarter. Bank of America Corp DE now owns 10,900 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 500 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ProShares UltraShort S&P500 by 4.5% in the second quarter. JPMorgan Chase & Co. now owns 14,467 shares of the real estate investment trust’s stock worth $496,000 after acquiring an additional 626 shares during the period. Woodward Diversified Capital LLC lifted its stake in shares of ProShares UltraShort S&P500 by 15.0% in the first quarter. Woodward Diversified Capital LLC now owns 5,313 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 694 shares during the period. Finally, Meridian Wealth Management LLC lifted its stake in shares of ProShares UltraShort S&P500 by 1.6% in the third quarter. Meridian Wealth Management LLC now owns 45,747 shares of the real estate investment trust’s stock worth $1,662,000 after acquiring an additional 714 shares during the period.

About ProShares UltraShort S&P500

ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.