ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Should You Buy?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped up before the market opened on Monday . The stock had previously closed at $19.05, but opened at $19.65. ProShares UltraPro Short S&P 500 shares last traded at $19.29, with a volume of 4,376,968 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Performance

The business’s fifty day moving average price is $25.04 and its 200-day moving average price is $22.98.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors have recently added to or reduced their stakes in SPXU. Larson Financial Group LLC boosted its stake in ProShares UltraPro Short S&P 500 by 146.0% during the first quarter. Larson Financial Group LLC now owns 10,968 shares of the exchange traded fund’s stock worth $280,000 after buying an additional 6,510 shares during the period. GW Henssler & Associates Ltd. boosted its stake in shares of ProShares UltraPro Short S&P 500 by 31.5% during the first quarter. GW Henssler & Associates Ltd. now owns 48,185 shares of the exchange traded fund’s stock valued at $1,230,000 after purchasing an additional 11,553 shares during the period. Integrated Advisors Network LLC lifted its stake in ProShares UltraPro Short S&P 500 by 121.7% in the fourth quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after acquiring an additional 12,900 shares during the period. Cadent Capital Advisors LLC lifted its stake in ProShares UltraPro Short S&P 500 by 4.4% in the first quarter. Cadent Capital Advisors LLC now owns 527,078 shares of the exchange traded fund’s stock worth $13,456,000 after acquiring an additional 21,997 shares during the period. Finally, Sollinda Capital Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at about $612,000.

About ProShares UltraPro Short S&P 500

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.