ProShares UltraShort Real Estate (NYSEARCA:SRS) Shares Cross Above 50-Day Moving Average – Here’s Why

ProShares UltraShort Real Estate (NYSEARCA:SRS)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $39.50 and traded as high as $43.61. ProShares UltraShort Real Estate shares last traded at $43.61, with a volume of 11,617 shares.

ProShares UltraShort Real Estate Stock Up 2.1%

The business has a 50 day simple moving average of $39.50 and a 200-day simple moving average of $41.28.

Hedge Funds Weigh In On ProShares UltraShort Real Estate

A hedge fund recently raised its stake in ProShares UltraShort Real Estate stock. IMC Chicago LLC raised its holdings in ProShares UltraShort Real Estate (NYSEARCA:SRS) by 52.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,782 shares of the company’s stock after acquiring an additional 8,562 shares during the quarter. IMC Chicago LLC owned 5.90% of ProShares UltraShort Real Estate worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

About ProShares UltraShort Real Estate

ProShares UltraShort Real Estate (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments, and real estate investment trusts (REITs) that invest in apartments, office and retail properties.