ProShares UltraShort Health Care Stock to Reverse Split on Thursday, May 28th (NYSEARCA:RXD)

ProShares UltraShort Health Care (NYSEARCA:RXD)’s stock is set to reverse split before the market opens on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

ProShares UltraShort Health Care Stock Performance

ProShares UltraShort Health Care stock traded down $0.42 during trading hours on Tuesday, hitting $10.26. 3,914 shares of the stock traded hands, compared to its average volume of 16,695. The firm’s 50-day moving average price is $10.01 and its two-hundred day moving average price is $9.51. ProShares UltraShort Health Care has a one year low of $8.46 and a one year high of $13.64.

Institutional Trading of ProShares UltraShort Health Care

A hedge fund recently bought a new stake in ProShares UltraShort Health Care stock. IMC Chicago LLC purchased a new position in ProShares UltraShort Health Care (NYSEARCA:RXD) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned approximately 4.29% of ProShares UltraShort Health Care as of its most recent SEC filing.

About ProShares UltraShort Health Care

ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.