ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up – Time to Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped up prior to trading on Monday . The stock had previously closed at $44.70, but opened at $45.76. ProShares UltraPro Short Dow30 shares last traded at $44.83, with a volume of 824,805 shares trading hands.

ProShares UltraPro Short Dow30 Stock Performance

The business’s fifty day moving average price is $47.63 and its 200 day moving average price is $52.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new position in ProShares UltraPro Short Dow30 in the third quarter valued at $727,000. Flow Traders U.S. LLC increased its position in 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 buying an additional 9,090 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of ProShares UltraPro Short Dow30 during the third quarter worth approximately $137,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of ProShares UltraPro Short Dow30 by 19.8% in the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock valued at $43,000 after buying 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.