ProShares Short S&P 500 (NYSEARCA:SH) Hits New 1-Year Low – Time to Sell?

ProShares Short S&P 500 (NYSEARCA:SH) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $32.66 and last traded at $32.6950, with a volume of 5159518 shares. The stock had previously closed at $33.16.

ProShares Short S&P 500 Price Performance

The company’s fifty day moving average is $33.22 and its 200 day moving average is $34.89.

Hedge Funds Weigh In On ProShares Short S&P 500

Hedge funds have recently made changes to their positions in the business. WFA of San Diego LLC purchased a new stake in ProShares Short S&P 500 during the 2nd quarter worth $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in ProShares Short S&P 500 in the fourth quarter valued at about $55,000. Atlantic Union Bankshares Corp raised its position in ProShares Short S&P 500 by 51.1% in the fourth quarter. Atlantic Union Bankshares Corp now owns 1,700 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 575 shares during the period. Ascentis Independent Advisors acquired a new position in shares of ProShares Short S&P 500 during the first quarter worth about $67,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of ProShares Short S&P 500 in the second quarter worth about $77,000.

ProShares Short S&P 500 Company Profile

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.