ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up – Time to Buy?

ProShares UltraShort S&P500 (NYSEARCA:SDS) shares gapped up prior to trading on Monday . The stock had previously closed at $20.61, but opened at $21.20. ProShares UltraShort S&P500 shares last traded at $21.98, with a volume of 12,351,741 shares trading hands.

ProShares UltraShort S&P500 Stock Performance

The company has a 50-day moving average of $19.23 and a two-hundred day moving average of $19.96.

Institutional Investors Weigh In On ProShares UltraShort S&P500

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atria Investments Inc boosted its position in shares of ProShares UltraShort S&P500 by 24.7% in the 3rd quarter. Atria Investments Inc now owns 16,305 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 3,230 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of ProShares UltraShort S&P500 by 17.7% in the third quarter. Axxcess Wealth Management LLC now owns 10,970 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 1,650 shares during the last quarter. Kraft Davis & Associates LLC raised its position in shares of ProShares UltraShort S&P500 by 39.5% in the 3rd quarter. Kraft Davis & Associates LLC now owns 29,085 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 8,240 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in ProShares UltraShort S&P500 by 142.1% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 414,453 shares of the real estate investment trust’s stock worth $8,550,000 after purchasing an additional 243,247 shares in the last quarter. Finally, Raffles Associates LP grew its position in ProShares UltraShort S&P500 by 12.2% during the 3rd quarter. Raffles Associates LP now owns 230,000 shares of the real estate investment trust’s stock valued at $4,745,000 after purchasing an additional 25,000 shares during the last quarter.

About ProShares UltraShort S&P500

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.