ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – Time to Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s share price gapped up prior to trading on Monday . The stock had previously closed at $44.70, but opened at $45.76. ProShares UltraPro Short Dow30 shares last traded at $44.83, with a volume of 824,805 shares changing hands.

ProShares UltraPro Short Dow30 Price Performance

The business has a 50 day moving average price of $47.84 and a two-hundred day moving average price of $53.22.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in ProShares UltraPro Short Dow30 by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock worth $43,000 after buying an additional 543 shares during the period. XTX Topco Ltd purchased a new position in shares of ProShares UltraPro Short Dow30 during the 3rd quarter worth about $137,000. Flow Traders U.S. LLC grew its holdings in ProShares UltraPro Short Dow30 by 21.0% during the 3rd quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock valued at $685,000 after purchasing an additional 9,090 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in ProShares UltraPro Short Dow30 in the 3rd quarter worth about $727,000.

About ProShares UltraPro Short Dow30

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.