ProShares UltraShort S&P500 (NYSEARCA:SDS) Shares Cross Above 200 Day Moving Average – Time to Sell?

ProShares UltraShort S&P500 (NYSEARCA:SDS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $70.54 and traded as high as $70.71. ProShares UltraShort S&P500 shares last traded at $70.26, with a volume of 6,089,883 shares trading hands.

ProShares UltraShort S&P500 Price Performance

The business has a 50-day moving average of $67.81 and a 200 day moving average of $70.54.

Institutional Investors Weigh In On ProShares UltraShort S&P500

Several hedge funds and other institutional investors have recently modified their holdings of SDS. Global Trust Asset Management LLC bought a new position in shares of ProShares UltraShort S&P500 in the 3rd quarter worth $29,000. Bogart Wealth LLC bought a new stake in ProShares UltraShort S&P500 during the 3rd quarter valued at $51,000. JFS Wealth Advisors LLC bought a new stake in ProShares UltraShort S&P500 during the 3rd quarter valued at $87,000. Colonial Trust Advisors acquired a new position in ProShares UltraShort S&P500 during the fourth quarter worth $94,000. Finally, JPMorgan Chase & Co. raised its holdings in ProShares UltraShort S&P500 by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 9,087 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 835 shares during the last quarter.

About ProShares UltraShort S&P500

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.