ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Hits New 52-Week Low – Should You Sell?

Shares of ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) reached a new 52-week low during trading on Thursday . The stock traded as low as $47.26 and last traded at $47.57, with a volume of 239535 shares traded. The stock had previously closed at $47.52.

ProShares UltraPro Short Dow30 Price Performance

The business’s fifty day moving average is $13.46 and its 200-day moving average is $15.33.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP increased its holdings in ProShares UltraPro Short Dow30 by 748.7% in the 1st quarter. Quantbot Technologies LP now owns 20,242 shares of the exchange traded fund’s stock valued at $319,000 after purchasing an additional 17,857 shares in the last quarter. Headlands Technologies LLC boosted its holdings in ProShares UltraPro Short Dow30 by 303.5% in the 1st quarter. Headlands Technologies LLC now owns 29,237 shares of the exchange traded fund’s stock worth $460,000 after acquiring an additional 21,991 shares during the period. Finally, Hollencrest Capital Management grew its position in ProShares UltraPro Short Dow30 by 76.9% in the second quarter. Hollencrest Capital Management now owns 6,900 shares of the exchange traded fund’s stock valued at $115,000 after acquiring an additional 3,000 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.