ProShares Short S&P 500 (NYSEARCA:SH) Stock Break Above 50-Day Moving Average – Time to Sell?

ProShares Short S&P 500 (NYSEARCA:SH – Get Free Report)’s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $32.34 and traded as high as $33.09. ProShares Short S&P 500 shares last traded at $32.86, with a volume of 12,028,046 shares.

ProShares Short S&P 500 Stock Up 1.9%

The stock has a 50 day simple moving average of $32.34 and a 200-day simple moving average of $34.10.

Institutional Trading of ProShares Short S&P 500

Hedge funds have recently modified their holdings of the business. Three Seasons Wealth LLC acquired a new stake in shares of ProShares Short S&P 500 during the 1st quarter valued at about $20,507,000. Virtue Capital Management LLC raised its stake in shares of ProShares Short S&P 500 by 537.7% during the third quarter. Virtue Capital Management LLC now owns 385,351 shares of the real estate investment trust’s stock worth $12,485,000 after buying an additional 324,927 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in ProShares Short S&P 500 in the first quarter valued at approximately $10,853,000. Arkadios Wealth Advisors acquired a new stake in shares of ProShares Short S&P 500 during the first quarter worth $10,769,000. Finally, First Pacific Financial bought a new position in ProShares Short S&P 500 in the third quarter valued at $10,243,000.

About ProShares Short S&P 500

(Get Free Report)

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.

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