ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Down 3.2% – Here’s What Happened

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)’s share price traded down 3.2% during mid-day trading on Friday . The company traded as low as $50.73 and last traded at $50.73. 2,175,946 shares traded hands during trading, a decline of 37% from the average session volume of 3,465,915 shares. The stock had previously closed at $52.41.

ProShares UltraPro Short Dow30 Price Performance

The company’s 50-day simple moving average is $48.50 and its 200 day simple moving average is $56.61.

Institutional Investors Weigh In On ProShares UltraPro Short Dow30

A number of hedge funds have recently bought and sold shares of SDOW. Hollencrest Capital Management grew its position in shares of ProShares UltraPro Short Dow30 by 76.9% during the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock worth $115,000 after buying an additional 3,000 shares in the last quarter. XTX Topco Ltd purchased a new position in ProShares UltraPro Short Dow30 in the third quarter worth approximately $137,000. Walleye Capital LLC acquired a new position in ProShares UltraPro Short Dow30 during the 3rd quarter worth approximately $727,000. Finally, Flow Traders U.S. LLC increased its position in shares of ProShares UltraPro Short Dow30 by 21.0% in the 3rd quarter. Flow Traders U.S. LLC now owns 52,397 shares of the exchange traded fund’s stock valued at $685,000 after purchasing an additional 9,090 shares during the last quarter.

ProShares UltraPro Short Dow30 Company Profile

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.