ProShares UltraShort Consumer Staples (NYSEARCA:SZK) Shares to Reverse Split on Thursday, May 28th

Shares of ProShares UltraShort Consumer Staples (NYSEARCA:SZK) are set to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

ProShares UltraShort Consumer Staples Price Performance

Shares of NYSEARCA SZK traded down $0.31 during mid-day trading on Tuesday, reaching $10.80. The company’s stock had a trading volume of 4,584 shares, compared to its average volume of 12,520. The stock has a 50-day moving average of $11.16 and a two-hundred day moving average of $11.72. ProShares UltraShort Consumer Staples has a 1-year low of $9.20 and a 1-year high of $13.86.

Institutional Investors Weigh In On ProShares UltraShort Consumer Staples

A hedge fund recently bought a new stake in ProShares UltraShort Consumer Staples stock. Mutual Advisors LLC bought a new stake in ProShares UltraShort Consumer Staples (NYSEARCA:SZK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,482 shares of the company’s stock, valued at approximately $190,000. Mutual Advisors LLC owned about 25.80% of ProShares UltraShort Consumer Staples as of its most recent SEC filing.

About ProShares UltraShort Consumer Staples

ProShares UltraShort Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Consumer Goods Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.