ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – Still a Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s share price gapped up prior to trading on Monday . The stock had previously closed at $49.01, but opened at $50.59. ProShares UltraPro Short Dow30 shares last traded at $51.43, with a volume of 934,250 shares traded.

ProShares UltraPro Short Dow30 Stock Performance

The business’s fifty day moving average price is $48.37 and its 200-day moving average price is $55.72.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in shares of ProShares UltraPro Short Dow30 during the third quarter worth about $727,000. Flow Traders U.S. LLC increased its stake in shares of ProShares UltraPro Short Dow30 by 21.0% during the third quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock worth $685,000 after purchasing an additional 9,090 shares in the last quarter. XTX Topco Ltd purchased a new stake in ProShares UltraPro Short Dow30 during the 3rd quarter worth approximately $137,000. Hollencrest Capital Management lifted its position in shares of ProShares UltraPro Short Dow30 by 76.9% in the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock valued at $115,000 after acquiring an additional 3,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 543 shares in the last quarter.

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.