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

ProShares Short S&P 500 (NYSEARCA:SH) hit a new 52-week low during trading on Wednesday . The stock traded as low as $35.32 and last traded at $35.2950, with a volume of 5927558 shares trading hands. The stock had previously closed at $35.57.

ProShares Short S&P 500 Stock Down 0.8%

The company’s 50 day moving average is $36.76 and its 200 day moving average is $36.52.

ProShares Short S&P 500 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were paid a $0.1789 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.72 annualized dividend and a dividend yield of 2.0%.

Institutional Trading of ProShares Short S&P 500

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stack Financial Management Inc acquired a new stake in shares of ProShares Short S&P 500 in the fourth quarter valued at about $90,286,000. UBS Group AG raised its position in ProShares Short S&P 500 by 167.7% during 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 acquiring an additional 1,026,917 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in ProShares Short S&P 500 during the fourth quarter worth about $17,698,000. Focus Partners Wealth raised its position in ProShares Short S&P 500 by 3.2% during the fourth quarter. Focus Partners Wealth now owns 407,260 shares of the real estate investment trust’s stock worth $14,674,000 after acquiring an additional 12,658 shares during the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in ProShares Short S&P 500 during the third quarter worth about $12,257,000.

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.