ProShares UltraShort Energy (NYSEARCA:DUG) Stock Price Break Below 50 Day Moving Average – Should You Sell?

ProShares UltraShort Energy (NYSEARCA:DUG)’s share price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $13.96 and traded as low as $13.74. ProShares UltraShort Energy shares last traded at $13.95, with a volume of 306,969 shares traded.

ProShares UltraShort Energy Price Performance

The stock’s 50-day moving average price is $13.96 and its 200-day moving average price is $17.74.

ProShares UltraShort Energy’s stock is scheduled to reverse split on Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.

Hedge Funds Weigh In On ProShares UltraShort Energy

An institutional investor recently bought a new stake in ProShares UltraShort Energy stock. Boston Partners bought a new stake in ProShares UltraShort Energy (NYSEARCA:DUG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,274 shares of the company’s stock, valued at approximately $345,000. Boston Partners owned 0.84% of ProShares UltraShort Energy as of its most recent SEC filing.

About ProShares UltraShort Energy

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.