How To Buy ProShares Short MidCap400 (MYY) Stock
How To Buy MYY
ProShares Short MidCap400 (MYY) is an ETF listed on the NYSE ARCA exchange, which means you can buy the stock from most brokers. Follow the steps below to learn how to purchase shares of the stock.
Find a reliable broker.
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Fund your new account.
You'll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is recommended and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.
Search for MYY on the brokerage app or site.
When your funds are settled into your account, look for ProShares Short MidCap400 on your broker by searching for the company name: ProShares Short MidCap400 or the ticker symbol: MYY.
Buy the stock.
Once that you've found ProShares Short MidCap400 on your broker, you can submit a purchase order to buy the stock for $24.62 a share (current price). Note that depending on when you decide to buy the stock, the stock might be higher or lower than the price listed. You may also be able to purchase fractional shares, depending on your broker.
Once your order is fulfilled, you've just bought your first shares of ProShares Short MidCap400. Congratulations!
When submitting your order, you may choose to buy shares of ProShares Short MidCap400 at the market price with a market order or at a set price using a limit order.
- Market order: Buy the stock immediately at its current price.
- Limit order: Buy the stock only once it reaches your target price.
By default all purchases are considered market orders unless specified otherwise. Limit orders are great if you only want to buy shares of MYY if it reaches a certain price.
Should You Buy MYY Stock Now?
In the past week, the price per share of ProShares Short MidCap400 has gone down ↓0.04 (-0.15%) while the daily volume has increased slightly. You should buy MYY now if you think the stock will recover soon, or wait until you think the stock is done dropping.
In the end no one nor metric can really tell you whether or not you should buy MYY today. You should be comfortable with the risk of the investment and buy only when you think the time is right.