ProShares Short S&P 500 (NYSEARCA:SH) Hits New 52-Week Low – Here’s Why
by Michael Walen · The Markets DailyProShares Short S&P 500 (NYSEARCA:SH – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $34.64 and last traded at $34.6550, with a volume of 5200917 shares traded. The stock had previously closed at $34.90.
ProShares Short S&P 500 Price Performance
The stock has a 50-day moving average of $36.63 and a two-hundred day moving average of $36.43.
Institutional Investors Weigh In On ProShares Short S&P 500
A number of institutional investors have recently bought and sold shares of the business. Stack Financial Management Inc purchased a new position in ProShares Short S&P 500 during the 4th quarter valued at about $90,286,000. UBS Group AG lifted its position in shares of ProShares Short S&P 500 by 167.7% in the third quarter. UBS Group AG now owns 1,639,335 shares of the real estate investment trust’s stock worth $60,590,000 after purchasing an additional 1,026,917 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of ProShares Short S&P 500 during the fourth quarter worth approximately $17,698,000. Arlington Capital Management Inc. acquired a new stake in shares of ProShares Short S&P 500 during the third quarter worth approximately $12,257,000. Finally, Wealth Quarterback LLC purchased a new position in ProShares Short S&P 500 during the third quarter valued at approximately $7,886,000.
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.