ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Cross Above 50 Day Moving Average – What’s Next?

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $54.34 and traded as high as $59.13. ProShares UltraShort S&P500 shares last traded at $59.09, with a volume of 14,700,659 shares changing hands.

ProShares UltraShort S&P500 Price Performance

The business has a 50-day moving average of $54.34 and a 200-day moving average of $60.56.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SDS. AXQ Capital LP purchased a new stake in shares of ProShares UltraShort S&P500 in the second quarter valued at $544,000. Two Sigma Securities LLC lifted its holdings in shares of ProShares UltraShort S&P500 by 805.2% in the 2nd quarter. Two Sigma Securities LLC now owns 33,500 shares of the real estate investment trust’s stock worth $1,905,000 after acquiring an additional 29,799 shares during the last quarter. IMC Chicago LLC lifted its holdings in shares of ProShares UltraShort S&P500 by 12.2% in the 1st quarter. IMC Chicago LLC now owns 101,929 shares of the real estate investment trust’s stock worth $7,670,000 after acquiring an additional 11,085 shares during the last quarter. Virtue Capital Management LLC purchased a new position in shares of ProShares UltraShort S&P500 during the 3rd quarter worth about $17,641,000. Finally, Renaissance Technologies LLC purchased a new position in shares of ProShares UltraShort S&P500 during the 1st quarter worth about $1,257,000.

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.