ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Pass Below Two Hundred Day Moving Average – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.54 and traded as low as $36.96. ProShares UltraPro Short S&P 500 shares last traded at $37.27, with a volume of 10,115,755 shares.

ProShares UltraPro Short S&P 500 Stock Performance

The business’s 50 day moving average price is $37.67 and its 200-day moving average price is $44.54.

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

A number of institutional investors have recently added to or reduced their stakes in SPXU. Optiver Holding B.V. acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at about $142,000. SG Americas Securities LLC purchased a new position in ProShares UltraPro Short S&P 500 in the first quarter valued at about $155,000. NewEdge Advisors LLC purchased a new position in ProShares UltraPro Short S&P 500 in the first quarter valued at about $329,000. EverSource Wealth Advisors LLC grew its stake in ProShares UltraPro Short S&P 500 by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 975 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter valued at approximately $364,000.

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.