ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Stock Price Down 4.6%

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) fell 4.6% during trading on Friday . The company traded as low as $23.85 and last traded at $24.10. 1,272 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 2,566 shares. The stock had previously closed at $25.25.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Down 4.6 %

The business’s 50 day simple moving average is $24.71 and its 200 day simple moving average is $21.08.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares Ultra Nasdaq Cloud Computing ETF stock. UBS Group AG lifted its position in shares of ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) by 1,123.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,162 shares of the company’s stock after acquiring an additional 4,740 shares during the quarter. UBS Group AG owned 3.97% of ProShares Ultra Nasdaq Cloud Computing ETF worth $55,000 at the end of the most recent quarter.

ProShares Ultra Nasdaq Cloud Computing ETF Company Profile

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.