ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Up – Here’s What Happened

Shares of ProShares UltraShort S&P500 (NYSEARCA:SDS) gapped up before the market opened on Friday . The stock had previously closed at $23.07, but opened at $24.31. ProShares UltraShort S&P500 shares last traded at $24.99, with a volume of 7,308,114 shares trading hands.

ProShares UltraShort S&P500 Stock Up 12.1 %

The business has a 50 day moving average price of $20.09 and a 200 day moving average price of $19.90.

ProShares UltraShort S&P500 Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a dividend of $0.2335 per share. The ex-dividend date was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraShort S&P500

Several institutional investors and hedge funds have recently made changes to their positions in SDS. Vance Wealth LLC bought a new stake in ProShares UltraShort S&P500 in the 4th quarter worth about $429,000. Southport Management L.L.C. grew its stake in shares of ProShares UltraShort S&P500 by 55.6% in the fourth quarter. Southport Management L.L.C. now owns 70,000 shares of the real estate investment trust’s stock worth $1,377,000 after acquiring an additional 25,000 shares during the period. CoreCap Advisors LLC purchased a new position in shares of ProShares UltraShort S&P500 during the fourth quarter valued at approximately $28,000. Two Sigma Securities LLC lifted its position in ProShares UltraShort S&P500 by 351.7% during the fourth quarter. Two Sigma Securities LLC now owns 211,744 shares of the real estate investment trust’s stock valued at $4,165,000 after purchasing an additional 164,868 shares during the period. Finally, Canal Capital Management LLC boosted its holdings in ProShares UltraShort S&P500 by 33.9% in the fourth quarter. Canal Capital Management LLC now owns 55,385 shares of the real estate investment trust’s stock worth $1,089,000 after purchasing an additional 14,035 shares during the last quarter.

ProShares UltraShort S&P500 Company Profile

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.