ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – What’s Next?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped up before the market opened on Monday . The stock had previously closed at $44.70, but opened at $45.76. ProShares UltraPro Short Dow30 shares last traded at $44.83, with a volume of 824,805 shares traded.

ProShares UltraPro Short Dow30 Stock Performance

The firm’s 50 day moving average price is $47.63 and its two-hundred day moving average price is $52.95.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several institutional investors and hedge funds have recently modified their holdings of SDOW. JPMorgan Chase & Co. increased its holdings in shares of ProShares UltraPro Short Dow30 by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 543 shares during the period. XTX Topco Ltd acquired a new stake in shares of ProShares UltraPro Short Dow30 during the 3rd quarter worth $137,000. Flow Traders U.S. LLC increased its position 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 worth $685,000 after purchasing an additional 9,090 shares during the period. Finally, Walleye Capital LLC acquired a new position in ProShares UltraPro Short Dow30 in the third quarter valued at about $727,000.

About ProShares UltraPro Short Dow30

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.