ProShares Short High Yield (NYSEARCA:SJB) Trading 0.1% Higher – Should You Buy?

ProShares Short High Yield (NYSEARCA:SJB) rose 0.1% on Wednesday . The stock traded as high as $16.20 and last traded at $16.15. Approximately 308,157 shares were traded during mid-day trading, an increase of 150% from the average daily volume of 123,505 shares. The stock had previously closed at $16.14.

ProShares Short High Yield Trading Up 0.1 %

The stock has a 50 day moving average of $16.32 and a 200-day moving average of $16.53.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Elevated Capital Advisors LLC bought a new position in ProShares Short High Yield in the second quarter worth approximately $266,000. Mid American Wealth Advisory Group Inc. grew its position in shares of ProShares Short High Yield by 69.8% during the 3rd quarter. Mid American Wealth Advisory Group Inc. now owns 46,777 shares of the company’s stock worth $757,000 after buying an additional 19,221 shares in the last quarter. Lloyd Advisory Services LLC. increased its stake in shares of ProShares Short High Yield by 4.4% during the third quarter. Lloyd Advisory Services LLC. now owns 98,952 shares of the company’s stock valued at $1,602,000 after buying an additional 4,168 shares during the period. AE Wealth Management LLC raised its holdings in shares of ProShares Short High Yield by 6.6% in the second quarter. AE Wealth Management LLC now owns 274,969 shares of the company’s stock valued at $4,658,000 after acquiring an additional 17,076 shares in the last quarter. Finally, Solstein Capital LLC bought a new stake in shares of ProShares Short High Yield in the third quarter valued at about $5,073,000.

ProShares Short High Yield Company Profile

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years.