Shares of ProShares UltraShort Energy (NYSEARCA:DUG – Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $13.97 and traded as high as $14.68. ProShares UltraShort Energy shares last traded at $14.36, with a volume of 1,436,397 shares changing hands.
ProShares UltraShort Energy Trading Up 9.8%
The firm has a 50-day simple moving average of $13.97 and a 200-day simple moving average of $18.11.
ProShares UltraShort Energy shares are set 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.
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.
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