ProShares Short Real Estate (NYSEARCA:REK) Stock Price Down 1.2% – Here’s Why

ProShares Short Real Estate (NYSEARCA:REK) shares dropped 1.2% during mid-day trading on Thursday . The stock traded as low as $16.73 and last traded at $16.76. Approximately 11,852 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 18,330 shares. The stock had previously closed at $16.96.

ProShares Short Real Estate Trading Down 1.7 %

The stock’s 50 day simple moving average is $16.46 and its 200 day simple moving average is $17.92.

Hedge Funds Weigh In On ProShares Short Real Estate

An institutional investor recently bought a new position in ProShares Short Real Estate stock. Worth Asset Management LLC bought a new stake in shares of ProShares Short Real Estate (NYSEARCA:REK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,235 shares of the company’s stock, valued at approximately $552,000. Worth Asset Management LLC owned approximately 2.92% of ProShares Short Real Estate at the end of the most recent reporting period.

ProShares Short Real Estate Company Profile

ProShares Short Real Estate (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the 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.