ProShares UltraShort Technology Stock to Reverse Split on Thursday, May 28th (NYSEARCA:REW)

ProShares UltraShort Technology (NYSEARCA:REW)’s stock is going to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

ProShares UltraShort Technology Stock Up 2.9%

Shares of REW traded up $0.20 during midday trading on Tuesday, hitting $7.11. 57,623 shares of the company traded hands, compared to its average volume of 54,731. The firm has a 50 day moving average of $10.68 and a 200-day moving average of $10.94. ProShares UltraShort Technology has a 52 week low of $6.88 and a 52 week high of $18.82.

Hedge Funds Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

About ProShares UltraShort Technology

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.