ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Up 3.9% – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares were up 3.9% during mid-day trading on Friday . The company traded as high as $25.21 and last traded at $25.46. Approximately 3,141,855 shares traded hands during trading, a decline of 67% from the average daily volume of 9,564,202 shares. The stock had previously closed at $24.51.

ProShares UltraPro Short S&P 500 Trading Up 5.3 %

The business’s 50-day simple moving average is $22.38 and its two-hundred day simple moving average is $22.88.

ProShares UltraPro Short S&P 500 Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be given a dividend of $0.2601 per share. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Axxcess Wealth Management LLC bought a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter worth approximately $4,112,000. Sollinda Capital Management LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $612,000. Ridgepath Capital Management LLC bought a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth $4,112,000. Edgestream Partners L.P. purchased a new stake in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $287,000. Finally, Cadent Capital Advisors LLC bought a new position in ProShares UltraPro Short S&P 500 during the 4th quarter valued at $11,379,000.

ProShares UltraPro Short S&P 500 Company Profile

The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.