ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up to $32.70

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $33.60, but opened at $32.70. ProShares UltraShort S&P500 shares last traded at $32.47, with a volume of 923,542 shares trading hands.

The firm has a 50-day simple moving average of $30.25 and a 200 day simple moving average of $32.49.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of ProShares UltraShort S&P500 by 200.0% during the first quarter. Bank of Montreal Can now owns 900 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 600 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of ProShares UltraShort S&P500 during the second quarter worth about $40,000. TRUE Private Wealth Advisors bought a new position in shares of ProShares UltraShort S&P500 during the second quarter worth about $46,000. Captrust Financial Advisors bought a new position in shares of ProShares UltraShort S&P500 during the second quarter worth about $49,000. Finally, FNY Investment Advisers LLC bought a new position in shares of ProShares UltraShort S&P500 during the first quarter worth about $54,000.

About ProShares UltraShort S&P500 (NYSEARCA:SDS)

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.

Further Reading: Hold Rating

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