Shares of ProShares UltraShort S&P500 (NYSEARCA:SDS) rose 6% during trading on Wednesday . The company traded as high as $32.71 and last traded at $32.70, approximately 16,835,143 shares were traded during mid-day trading. An increase of 200% from the average daily volume of 5,610,071 shares. The stock had previously closed at $30.85.

The stock’s 50 day moving average is $30.20.

A number of hedge funds have recently modified their holdings of SDS. Terril Brothers Inc. boosted its stake in ProShares UltraShort S&P500 by 2,953.8% in the second quarter. Terril Brothers Inc. now owns 256,882 shares of the real estate investment trust’s stock valued at $7,891,000 after acquiring an additional 248,470 shares during the period. WESPAC Advisors SoCal LLC bought a new stake in shares of ProShares UltraShort S&P500 during the second quarter valued at approximately $2,783,000. Morgan Stanley raised its holdings in shares of ProShares UltraShort S&P500 by 798.0% during the second quarter. Morgan Stanley now owns 51,698 shares of the real estate investment trust’s stock valued at $1,588,000 after buying an additional 45,941 shares during the last quarter. Bedell Frazier Investment Counseling LLC bought a new stake in shares of ProShares UltraShort S&P500 during the second quarter valued at approximately $1,164,000. Finally, Capital Investment Advisory Services LLC raised its holdings in shares of ProShares UltraShort S&P500 by 24.9% during the second quarter. Capital Investment Advisory Services LLC now owns 170,181 shares of the real estate investment trust’s stock valued at $5,078,000 after buying an additional 33,886 shares during the last quarter.

ProShares UltraShort S&P500 Company Profile (NYSEARCA:SDS)

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.

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