ProShares UltraShort Financials (NYSEARCA:SKF)’s stock price shot up 0.5% during trading on Monday . The company traded as high as $15.87 and last traded at $15.87, 100 shares traded hands during mid-day trading. A decline of 100% from the average session volume of 45,108 shares. The stock had previously closed at $15.79.

The business’s 50-day simple moving average is $16.91 and its 200 day simple moving average is $17.72.

A hedge fund recently bought a new stake in ProShares UltraShort Financials stock. IndexIQ Advisors LLC bought a new stake in shares of ProShares UltraShort Financials (NYSEARCA:SKF) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,020 shares of the company’s stock, valued at approximately $93,000. IndexIQ Advisors LLC owned approximately 0.34% of ProShares UltraShort Financials as of its most recent filing with the Securities and Exchange Commission.

About ProShares UltraShort Financials (NYSEARCA:SKF)

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.

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