Shares of ProShares UltraShort Dow30 (NYSEARCA:DXD – Free Report) are going to reverse split on the morning of Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.
ProShares UltraShort Dow30 Trading Down 6.2%
Shares of DXD traded down $1.10 on Wednesday, reaching $16.60. The company’s stock had a trading volume of 6,475,280 shares, compared to its average volume of 2,499,620. ProShares UltraShort Dow30 has a twelve month low of $15.75 and a twelve month high of $23.29. The firm has a fifty day moving average of $17.38 and a 200-day moving average of $18.56.
Institutional Trading of ProShares UltraShort Dow30
Several institutional investors and hedge funds have recently modified their holdings of DXD. Group One Trading LLC boosted its position in shares of ProShares UltraShort Dow30 by 2,264.8% during the first quarter. Group One Trading LLC now owns 5,439 shares of the exchange traded fund’s stock valued at $120,000 after buying an additional 5,209 shares during the last quarter. Squarepoint Ops LLC bought a new stake in ProShares UltraShort Dow30 during the second quarter worth $417,000. Finally, IMC Chicago LLC purchased a new stake in ProShares UltraShort Dow30 in the 1st quarter valued at $2,189,000.
ProShares UltraShort Dow30 Company Profile
ProShares UltraShort Dow30 (the Fund), formerly UltraShort Dow30 ProShares, seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones Industrial Average (DJIA). The DJIA is a price-weighted index maintained by editors of The Wall Street Journal. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. Components are selected through a discretionary process with no predetermined criteria except that components should be established United States companies.
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