Canal Capital Management LLC Takes Position in ProShares UltraShort S&P500 (NYSEARCA:SDS)

Canal Capital Management LLC bought a new stake in ProShares UltraShort S&P500 (NYSEARCA:SDS) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 41,350 shares of the real estate investment trust’s stock, valued at approximately $853,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC purchased a new stake in shares of ProShares UltraShort S&P500 during the 3rd quarter worth about $227,000. SG Americas Securities LLC purchased a new position in ProShares UltraShort S&P500 during the third quarter worth approximately $1,315,000. PVG Asset Management Corp purchased a new position in ProShares UltraShort S&P500 during the second quarter worth approximately $2,733,000. Raffles Associates LP grew its holdings in ProShares UltraShort S&P500 by 13.9% in the second quarter. Raffles Associates LP now owns 205,000 shares of the real estate investment trust’s stock valued at $4,723,000 after purchasing an additional 25,000 shares during the period. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of ProShares UltraShort S&P500 in the second quarter valued at approximately $230,000.

ProShares UltraShort S&P500 Stock Down 0.8 %

Shares of SDS stock opened at $20.25 on Friday. The stock has a 50 day simple moving average of $21.42 and a 200-day simple moving average of $23.34. ProShares UltraShort S&P500 has a 1-year low of $19.88 and a 1-year high of $40.75.

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.