ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading 5% Higher – What’s Next?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) rose 5% during trading on Thursday . The company traded as high as $13.25 and last traded at $13.2160. Approximately 19,324,847 shares changed hands during trading, a decline of 8% from the average daily volume of 20,990,182 shares. The stock had previously closed at $12.59.

ProShares UltraPro Short S&P 500 Trading Up 0.2%

The stock’s fifty day moving average price is $13.46 and its 200 day moving average price is $16.19.

ProShares UltraPro Short S&P 500 shares are set to reverse split on the morning of Thursday, November 20th. The 1-4 reverse split was announced on Tuesday, November 4th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 19th.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors and hedge funds have recently made changes to their positions in SPXU. Larson Financial Group LLC boosted its position in shares of ProShares UltraPro Short S&P 500 by 146.0% in the 1st quarter. Larson Financial Group LLC now owns 10,968 shares of the exchange traded fund’s stock worth $280,000 after purchasing an additional 6,510 shares in the last quarter. Simplex Trading LLC raised its stake in ProShares UltraPro Short S&P 500 by 338.2% during the first quarter. Simplex Trading LLC now owns 48,683 shares of the exchange traded fund’s stock valued at $1,242,000 after buying an additional 37,574 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in ProShares UltraPro Short S&P 500 in the first quarter worth $5,441,000. Flow Traders U.S. LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter worth $840,000. Finally, Jump Financial LLC bought a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at $17,505,000.

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.