ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up – Still a Buy?

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $20.61, but opened at $21.20. ProShares UltraShort S&P500 shares last traded at $21.98, with a volume of 12,351,741 shares traded.

ProShares UltraShort S&P500 Stock Performance

The stock has a 50 day simple moving average of $19.23 and a 200 day simple moving average of $19.96.

Hedge Funds Weigh In On ProShares UltraShort S&P500

Institutional investors have recently modified their holdings of the business. Bedell Frazier Investment Counselling LLC lifted its holdings in shares of ProShares UltraShort S&P500 by 142.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 414,453 shares of the real estate investment trust’s stock worth $8,550,000 after acquiring an additional 243,247 shares during the last quarter. IMC Chicago LLC lifted its stake in ProShares UltraShort S&P500 by 268.9% in the 4th quarter. IMC Chicago LLC now owns 362,765 shares of the real estate investment trust’s stock valued at $7,136,000 after purchasing an additional 264,432 shares during the last quarter. Raffles Associates LP boosted its position in ProShares UltraShort S&P500 by 12.2% in the third quarter. Raffles Associates LP now owns 230,000 shares of the real estate investment trust’s stock valued at $4,745,000 after buying an additional 25,000 shares in the last quarter. Two Sigma Securities LLC increased its holdings in shares of ProShares UltraShort S&P500 by 351.7% during the fourth quarter. Two Sigma Securities LLC now owns 211,744 shares of the real estate investment trust’s stock worth $4,165,000 after buying an additional 164,868 shares in the last quarter. Finally, PVG Asset Management Corp increased its holdings in shares of ProShares UltraShort S&P500 by 46.4% during the third quarter. PVG Asset Management Corp now owns 173,587 shares of the real estate investment trust’s stock worth $3,581,000 after buying an additional 54,984 shares in the last quarter.

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.