Shares of ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) rose 9.2% during mid-day trading on Wednesday . The stock traded as high as $55.49 and last traded at $55.39, approximately 2,569,871 shares changed hands during trading. An increase of 113% from the average daily volume of 1,207,441 shares. The stock had previously closed at $50.74.
The company has a 50-day simple moving average of $48.47.
Institutional investors have recently added to or reduced their stakes in the stock. Institutional & Family Asset Management LLC acquired a new stake in ProShares UltraPro Short Dow30 in the second quarter valued at $63,000. Bank of Montreal Can acquired a new stake in ProShares UltraPro Short Dow30 in the second quarter valued at $310,000. Finally, Renaissance Technologies LLC acquired a new stake in ProShares UltraPro Short Dow30 in the second quarter valued at $1,002,000.
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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