ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up to $42.04

Shares of ProShares UltraShort S&P500 (NYSEARCA:SDSGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $42.04, but opened at $42.96. ProShares UltraShort S&P500 shares last traded at $42.99, with a volume of 690,867 shares.

ProShares UltraShort S&P500 Trading Up 2.9 %

The firm has a fifty day moving average of $43.93 and a 200-day moving average of $45.46.

Hedge Funds Weigh In On ProShares UltraShort S&P500

Several hedge funds and other institutional investors have recently bought and sold shares of SDS. Envestnet Asset Management Inc. raised its holdings in shares of ProShares UltraShort S&P500 by 70.3% in the second quarter. Envestnet Asset Management Inc. now owns 20,830 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 8,599 shares during the last quarter. LFS Asset Management acquired a new position in shares of ProShares UltraShort S&P500 in the second quarter worth $2,036,000. Galvin Gaustad & Stein LLC acquired a new position in shares of ProShares UltraShort S&P500 in the second quarter worth $201,000. Woodward Diversified Capital LLC acquired a new position in shares of ProShares UltraShort S&P500 in the third quarter worth $472,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of ProShares UltraShort S&P500 in the second quarter worth $307,000.

ProShares UltraShort S&P500 Company Profile

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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.

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