ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Gap Down to $26.90

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $26.90, but opened at $26.26. ProShares UltraShort S&P500 shares last traded at $26.44, with a volume of 5,233,756 shares trading hands.

ProShares UltraShort S&P500 Stock Performance

The stock has a 50 day moving average price of $26.14 and a 200 day moving average price of $29.91.

Institutional Investors Weigh In On ProShares UltraShort S&P500

Hedge funds have recently modified their holdings of the stock. Capital Investment Advisory Services LLC bought a new stake in shares of ProShares UltraShort S&P500 in the fourth quarter valued at approximately $74,000. ORG Partners LLC purchased a new stake in shares of ProShares UltraShort S&P500 during the fourth quarter worth $83,000. Parallel Advisors LLC boosted its holdings in shares of ProShares UltraShort S&P500 by 17.2% in the fourth quarter. Parallel Advisors LLC now owns 3,318 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 487 shares during the period. VitalStone Financial LLC grew its position in shares of ProShares UltraShort S&P500 by 250.0% in the third quarter. VitalStone Financial LLC now owns 3,500 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraShort S&P500 during the 3rd quarter valued at $213,000.

ProShares UltraShort S&P500 Company Profile

ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.