ProShares Short S&P 500 (NYSEARCA:SH) Hits New 12-Month Low – Should You Sell?

Shares of ProShares Short S&P 500 (NYSEARCA:SH) hit a new 52-week low on Wednesday . The company traded as low as $35.34 and last traded at $35.4450, with a volume of 1430380 shares changing hands. The stock had previously closed at $35.46.

ProShares Short S&P 500 Stock Up 0.0%

The firm’s 50-day moving average is $36.17 and its 200 day moving average is $37.23.

Institutional Investors Weigh In On ProShares Short S&P 500

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nvwm LLC acquired a new position in ProShares Short S&P 500 in the fourth quarter valued at $36,000. WFA of San Diego LLC purchased a new position in shares of ProShares Short S&P 500 during the 2nd quarter worth about $36,000. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Short S&P 500 in the second quarter worth approximately $38,000. SBI Securities Co. Ltd. grew its holdings in ProShares Short S&P 500 by 49.5% in the second quarter. SBI Securities Co. Ltd. now owns 961 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 318 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in ProShares Short S&P 500 during the third quarter worth approximately $42,000.

About ProShares Short S&P 500

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.