ProShares UltraShort Financials (NYSEARCA:SKF – Free Report)’s stock is going to reverse split before the market opens on Thursday, November 7th. The 1-4 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.
ProShares UltraShort Financials Stock Performance
Shares of NYSEARCA SKF opened at $9.55 on Wednesday. ProShares UltraShort Financials has a fifty-two week low of $9.18 and a fifty-two week high of $21.07. The company’s 50 day simple moving average is $10.20 and its 200 day simple moving average is $11.50.
Hedge Funds Weigh In On ProShares UltraShort Financials
An institutional investor recently raised its position in ProShares UltraShort Financials stock. Csenge Advisory Group increased its position in shares of ProShares UltraShort Financials (NYSEARCA:SKF – Free Report) by 23.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,550 shares of the company’s stock after acquiring an additional 38,982 shares during the quarter. Csenge Advisory Group owned about 15.30% of ProShares UltraShort Financials worth $2,441,000 as of its most recent SEC filing.
About ProShares UltraShort Financials
ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.
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