ProShares UltraShort S&P500 (NYSEARCA:SDS) Stock Price Cross Above 50 Day Moving Average – Time to Sell?

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s share 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 trading hands.

ProShares UltraShort S&P500 Stock Performance

The company’s 50-day simple moving average is $54.34 and its 200 day simple moving average is $60.56.

Institutional Trading of ProShares UltraShort S&P500

Several hedge funds have recently made changes to their positions in the business. Virtue Capital Management LLC bought a new stake in ProShares UltraShort S&P500 during the third quarter worth approximately $17,641,000. Three Seasons Wealth LLC purchased a new stake in ProShares UltraShort S&P500 during the first quarter valued at approximately $4,984,000. Two Sigma Securities LLC raised its position in ProShares UltraShort S&P500 by 805.2% during the second quarter. Two Sigma Securities LLC now owns 33,500 shares of the real estate investment trust’s stock valued at $1,905,000 after purchasing an additional 29,799 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ProShares UltraShort S&P500 in the 1st quarter valued at approximately $1,257,000. Finally, IMC Chicago LLC lifted its stake 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 valued at $7,670,000 after purchasing an additional 11,085 shares during the last quarter.

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.