ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Stock Break Above 50-Day Moving Average – Should You Sell?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $24.36 and traded as high as $25.29. ProShares UltraPro Short Dow30 shares last traded at $25.00, with a volume of 4,271,312 shares changing hands.

ProShares UltraPro Short Dow30 Price Performance

The stock has a fifty day moving average price of $24.36 and a two-hundred day moving average price of $27.29.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

A number of institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in ProShares UltraPro Short Dow30 during the 2nd quarter worth approximately $1,390,000. Group One Trading LLC increased its position in ProShares UltraPro Short Dow30 by 335.7% in the 1st quarter. Group One Trading LLC now owns 58,829 shares of the exchange traded fund’s stock valued at $2,071,000 after acquiring an additional 45,328 shares during the period. IMC Chicago LLC raised its position in shares of ProShares UltraPro Short Dow30 by 32.5% in the 1st quarter. IMC Chicago LLC now owns 140,711 shares of the exchange traded fund’s stock worth $4,954,000 after acquiring an additional 34,501 shares in the last quarter. Capstone Capital Management Ltd bought a new stake in ProShares UltraPro Short Dow30 in the first quarter valued at $436,000. Finally, Parallel Advisors LLC increased its stake in ProShares UltraPro Short Dow30 by 261.9% during the 1st quarter. Parallel Advisors LLC now owns 1,737 shares of the exchange traded fund’s stock valued at $61,000 after purchasing an additional 1,257 shares in the last quarter.

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. The Fund invests in financial instruments whose value is derived from the value of an underlying asset, interest rate or index.