ProShares Short S&P500 (NYSEARCA:SH) Reaches New 12-Month Low – Should You Sell?

ProShares Short S&P500 (NYSEARCA:SH) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $41.77 and last traded at $41.78, with a volume of 1007932 shares changing hands. The stock had previously closed at $42.05.

ProShares Short S&P500 Price Performance

The stock’s fifty day moving average is $43.02 and its 200-day moving average is $44.99.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in ProShares Short S&P500 by 7.9% during the second quarter. Envestnet Asset Management Inc. now owns 295,208 shares of the real estate investment trust’s stock worth $3,368,000 after buying an additional 21,540 shares during the period. West Michigan Advisors LLC purchased a new position in shares of ProShares Short S&P500 in the third quarter valued at approximately $1,202,000. Mirador Capital Partners LP boosted its stake in shares of ProShares Short S&P500 by 52.2% in the third quarter. Mirador Capital Partners LP now owns 1,009,135 shares of the real estate investment trust’s stock valued at $10,949,000 after purchasing an additional 346,068 shares during the period. Lionsbridge Wealth Management LLC purchased a new position in shares of ProShares Short S&P500 in the second quarter valued at approximately $395,000. Finally, AFG Fiduciary Services Limited Partnership purchased a new position in shares of ProShares Short S&P500 in the second quarter valued at approximately $3,860,000.

ProShares Short S&P500 Company Profile

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts.