ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Stock Price Up 5.5% – Time to Buy?

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) shares rose 5.5% during mid-day trading on Friday . The stock traded as high as $47.99 and last traded at $48.11. Approximately 1,956,967 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 2,446,529 shares. The stock had previously closed at $45.60.

ProShares UltraPro Short Dow30 Stock Up 5.3 %

The company has a 50 day simple moving average of $47.35 and a 200-day simple moving average of $51.15.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several institutional investors have recently added to or reduced their stakes in SDOW. JPMorgan Chase & Co. increased its holdings in shares of ProShares UltraPro Short Dow30 by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 3,280 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 543 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new stake in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at approximately $344,000. BNP Paribas Financial Markets bought a new stake in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at approximately $39,000. Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at approximately $3,276,000. Finally, Waverly Advisors LLC bought a new stake in shares of ProShares UltraPro Short Dow30 during the fourth quarter valued at approximately $431,000.

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.