Sollinda Capital Management LLC Invests $612,000 in ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

Sollinda Capital Management LLC bought a new position in shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) during the fourth quarter, HoldingsChannel reports. The fund bought 27,153 shares of the exchange traded fund’s stock, valued at approximately $612,000.

Other hedge funds have also modified their holdings of the company. Cadent Capital Advisors LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 4th quarter valued at $11,379,000. Ridgepath Capital Management LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 4th quarter valued at $4,112,000. DRW Securities LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $1,090,000. Larson Financial Group LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $301,000. Finally, Edgestream Partners L.P. purchased a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $287,000.

ProShares UltraPro Short S&P 500 Trading Up 8.0 %

NYSEARCA:SPXU opened at $25.88 on Tuesday. The firm’s fifty day moving average price is $21.57 and its 200 day moving average price is $23.00. ProShares UltraPro Short S&P 500 has a 1-year low of $19.89 and a 1-year high of $38.63.

ProShares UltraPro Short S&P 500 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.