ProShares UltraShort S&P500 (NYSEARCA:SDS) Share Price Cross Above 200-Day Moving Average – Here’s Why

ProShares UltraShort S&P500 (NYSEARCA:SDS)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $70.27 and traded as high as $74.51. ProShares UltraShort S&P500 shares last traded at $73.94, with a volume of 2,796,917 shares changing hands.

ProShares UltraShort S&P500 Stock Performance

The firm’s fifty day moving average price is $69.38 and its 200 day moving average price is $70.31.

ProShares UltraShort S&P500 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be paid a $0.4152 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $1.66 dividend on an annualized basis and a yield of 2.1%.

Institutional Investors Weigh In On ProShares UltraShort S&P500

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of ProShares UltraShort S&P500 during the 4th quarter valued at about $178,000. Quadrature Capital Ltd bought a new stake in shares of ProShares UltraShort S&P500 in the 4th quarter valued at approximately $5,547,000. Squarepoint Ops LLC increased its holdings in ProShares UltraShort S&P500 by 8.0% in the fourth quarter. Squarepoint Ops LLC now owns 12,271 shares of the real estate investment trust’s stock worth $840,000 after buying an additional 910 shares during the last quarter. Colonial Trust Advisors acquired a new position in ProShares UltraShort S&P500 in the fourth quarter worth approximately $94,000. Finally, Simplex Trading LLC bought a new position in ProShares UltraShort S&P500 during the fourth quarter valued at approximately $159,000.

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.