ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Down 3.7% – Should You Sell?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) were down 3.7% on Thursday . The company traded as low as $46.72 and last traded at $46.80. 4,225,381 shares were traded during trading, an increase of 21% from the average daily volume of 3,504,136 shares. The stock had previously closed at $48.61.

ProShares UltraPro Short Dow30 Price Performance

The firm’s fifty day moving average price is $51.50 and its 200-day moving average price is $59.55.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several institutional investors have recently modified their holdings of SDOW. Hollencrest Capital Management boosted its stake in ProShares UltraPro Short Dow30 by 76.9% in the 2nd quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after purchasing an additional 3,000 shares during the period. XTX Topco Ltd bought a new stake in shares of ProShares UltraPro Short Dow30 in the third quarter valued at about $137,000. Walleye Capital LLC acquired a new position in shares of ProShares UltraPro Short Dow30 during the third quarter worth about $727,000. Finally, Flow Traders U.S. LLC grew its holdings in shares of ProShares UltraPro Short Dow30 by 21.0% during the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock worth $685,000 after buying an additional 9,090 shares in the last quarter.

ProShares UltraPro Short Dow30 Company Profile

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.