ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Cross Above 200-Day Moving Average – What’s Next?

ProShares UltraShort S&P500 (NYSEARCA:SDS) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $70.54 and traded as high as $70.71. ProShares UltraShort S&P500 shares last traded at $70.26, with a volume of 6,089,883 shares traded.

ProShares UltraShort S&P500 Stock Up 3.1%

The stock has a 50 day moving average price of $67.85 and a 200-day moving average price of $70.54.

Hedge Funds Weigh In On ProShares UltraShort S&P500

A number of hedge funds have recently modified their holdings of the company. Global Trust Asset Management LLC bought a new position in ProShares UltraShort S&P500 in the 3rd quarter worth approximately $29,000. Bogart Wealth LLC bought a new stake in shares of ProShares UltraShort S&P500 during the third quarter valued at approximately $51,000. JFS Wealth Advisors LLC purchased a new position in shares of ProShares UltraShort S&P500 in the third quarter worth $87,000. Colonial Trust Advisors bought a new position in shares of ProShares UltraShort S&P500 during the fourth quarter worth $94,000. Finally, JPMorgan Chase & Co. grew its stake in ProShares UltraShort S&P500 by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 9,087 shares of the real estate investment trust’s stock valued at $151,000 after acquiring an additional 835 shares in the last quarter.

About ProShares UltraShort S&P500

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.