ProShares Short S&P 500 (NYSEARCA:SH) Sets New 12-Month Low – Time to Sell?

ProShares Short S&P 500 (NYSEARCA:SH)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $35.32 and last traded at $35.2950, with a volume of 5927558 shares trading hands. The stock had previously closed at $35.57.

ProShares Short S&P 500 Stock Down 0.8%

The company’s fifty day moving average price is $36.76 and its two-hundred day moving average price is $36.52.

ProShares Short S&P 500 Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were issued a $0.1789 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.72 annualized dividend and a dividend yield of 2.0%.

Institutional Trading of ProShares Short S&P 500

Several hedge funds and other institutional investors have recently made changes to their positions in SH. JPMorgan Chase & Co. boosted its holdings in shares of ProShares Short S&P 500 by 255.5% in the second quarter. JPMorgan Chase & Co. now owns 7,394 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 5,314 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of ProShares Short S&P 500 by 503.7% in the second quarter. NewEdge Advisors LLC now owns 6,562 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 5,475 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of ProShares Short S&P 500 in the second quarter valued at about $595,000. Raymond James Financial Inc. purchased a new stake in shares of ProShares Short S&P 500 in the second quarter valued at about $77,000. Finally, WFA of San Diego LLC purchased a new stake in shares of ProShares Short S&P 500 in the second quarter valued at about $36,000.

About ProShares Short S&P 500

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. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.