Within the Climate Change Initiative of the European Space Agency a multi-satellite soil moisture product covering the period 1979-2010 was released. In this study we first assess its quality by comparing it with soil moisture from ground-based stations and several land surface model estimates. Secondly, the dynamics in the dataset were assessed using trend analysis and comparisons with ancillary data sets of precipitation and vegetation. Significant changes over time were found that largely correspond to changes in precipitation and vegetation vigorousness. However, the influence of changing observation density and data set quality over time need to be better understood for a more precise interpretation of the observed trends.