Dallas, Texas 09/24/2013 (Financialstrend) – Since September 19, the ETF shares of ProShares UltraShort S&P500 (ETF) (NYSEARCA:SDS) have shot up 3.75% to reach a prior 5 day high valuation of $35.95 during intraday trading on September 23. Through the day the share shed some of its valuations to end the day’s trading at $35.75 which represents a 0.85% increase from its previous day close. The shares are trading 42% below its 52 week high price and 3.2% above its 52 week low valuation. At current valuations, the ETF market capitalization is $1.93 billion with 54.7 billion outstanding shares. It recorded 8.72 million of its shares being traded yesterday a tad lower than its 9.2 million average daily volume. The fund has recorded a dividend yield of 2.82% annually. It last paid out a dividend of $0.25 per share as of October’12.
Last week’s uptake in fund value breaks a 20 day slide in share price of this ETF. In the twenty day period between August 27 and September17, the fund had steadily lost 10% of its overall value. In fact in the last three months, the fund value has plummeted as much as 16% from the from the prior 90 day high price of $42.6.
The ETF tracks its returns on a daily basis against the performance of the S&P 500 Index. The S&P 500 Index offers a weighted measure of the top 500 companies which operate and trade in the US stock markets with respect to their stock market achievements. The S&P committee decides which companies get listed on the index by taking a holistic view of a given large cap’s liquidity capacity, stock price and market capitalization.
In a related development, on September 10, the company submitted to SEC that a private investment firm Brinker Capital had acquired shares worth $2.73 million in the ETF.