ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Sets New 52-Week Low – Time to Sell?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) shares hit a new 52-week low on Monday . The stock traded as low as $44.78 and last traded at $44.78, with a volume of 73123 shares trading hands. The stock had previously closed at $45.80.

ProShares UltraPro Short Dow30 Stock Down 2.2 %

The company’s 50 day simple moving average is $51.29 and its two-hundred day simple moving average is $59.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SDOW. Hollencrest Capital Management raised its holdings in shares of ProShares UltraPro Short Dow30 by 76.9% in the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after buying an additional 3,000 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of ProShares UltraPro Short Dow30 during the third quarter worth $137,000. Flow Traders U.S. LLC raised 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 purchasing an additional 9,090 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of ProShares UltraPro Short Dow30 during the third quarter worth $727,000.

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.