ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Pass Below 200-Day Moving Average of $30.53

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $30.53 and traded as low as $24.19. ProShares UltraPro Short S&P 500 shares last traded at $24.54, with a volume of 7,258,165 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The firm’s 50-day moving average is $27.81 and its 200 day moving average is $30.50.

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

Several institutional investors have recently added to or reduced their stakes in the stock. QCM Cayman Ltd. acquired a new position in ProShares UltraPro Short S&P 500 in the 1st quarter valued at $75,000. Adalta Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter worth about $99,000. GW Henssler & Associates Ltd. lifted its position in ProShares UltraPro Short S&P 500 by 28.6% in the first quarter. GW Henssler & Associates Ltd. now owns 149,539 shares of the exchange traded fund’s stock valued at $966,000 after purchasing an additional 33,241 shares during the period. Integrated Advisors Network LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 4th quarter valued at approximately $298,000. Finally, Vima LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 1st quarter worth approximately $441,000.

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.