ProShares UltraShort S&P500 (NYSEARCA:SDS) Stock Price Pass Above 200 Day Moving Average – Should You Sell?

ProShares UltraShort S&P500 (NYSEARCA:SDS) shares passed 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.

ProShares UltraShort S&P500 Stock Down 1.6%

The stock has a 50 day moving average of $69.18 and a 200-day moving average of $70.27.

ProShares UltraShort S&P500 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a $0.4152 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $1.66 annualized dividend and a dividend yield of 2.2%.

Institutional Trading of ProShares UltraShort S&P500

Institutional investors have recently modified their holdings of the business. Colonial Trust Advisors purchased a new position in ProShares UltraShort S&P500 in the 4th quarter valued at approximately $94,000. Global Trust Asset Management LLC bought a new stake in ProShares UltraShort S&P500 during the 3rd quarter valued at $29,000. Simplex Trading LLC purchased a new stake in shares of ProShares UltraShort S&P500 during the fourth quarter worth $159,000. Sunbelt Securities Inc. purchased a new stake in shares of ProShares UltraShort S&P500 during the fourth quarter worth $178,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of ProShares UltraShort S&P500 in the fourth quarter worth $205,000.

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.