ProShares Short Real Estate (NYSEARCA:REK) Stock Price Down 0.7% – Should You Sell?

Shares of ProShares Short Real Estate (NYSEARCA:REK) were down 0.7% during mid-day trading on Thursday . The company traded as low as $16.77 and last traded at $16.77. Approximately 3,400 shares changed hands during trading, a decline of 77% from the average daily volume of 14,573 shares. The stock had previously closed at $16.89.

ProShares Short Real Estate Stock Performance

The stock’s 50-day moving average is $17.31 and its 200-day moving average is $16.89.

Hedge Funds Weigh In On ProShares Short Real Estate

A hedge fund recently bought a new stake in ProShares Short Real Estate stock. Worth Asset Management LLC purchased a new stake in ProShares Short Real Estate (NYSEARCA:REK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,354 shares of the company’s stock, valued at approximately $198,000. Worth Asset Management LLC owned 1.14% of ProShares Short Real Estate at the end of the most recent reporting period.

About ProShares Short Real Estate

ProShares Short Real Estate (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments; and real estate investment trusts (REITs) that invest in apartments, office and retail properties.