ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Shares Gap Up to $55.39

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) gapped up prior to trading on Thursday . The stock had previously closed at $57.62, but opened at $55.39. ProShares UltraPro Short Dow30 shares last traded at $54.82, with a volume of 36,610 shares.

The company’s fifty day simple moving average is $48.66 and its 200-day simple moving average is $29.75.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Institutional & Family Asset Management LLC purchased a new position in ProShares UltraPro Short Dow30 in the second quarter worth $63,000. Renaissance Technologies LLC purchased a new position in ProShares UltraPro Short Dow30 in the second quarter worth $1,002,000. Finally, Bank of Montreal Can purchased a new position in ProShares UltraPro Short Dow30 in the second quarter worth $310,000.

About ProShares UltraPro Short Dow30 (NYSEARCA:SDOW)

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.

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