ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Here’s What Happened

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $26.53, but opened at $25.67. ProShares UltraPro Short S&P 500 shares last traded at $26.08, with a volume of 2,302,782 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The business has a fifty day moving average price of $21.80 and a 200 day moving average price of $23.02.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cadent Capital Advisors LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $11,379,000. GTS Securities LLC raised its position in ProShares UltraPro Short S&P 500 by 2,456.3% in the 4th quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after purchasing an additional 185,645 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter worth $4,112,000. Ridgepath Capital Management LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $4,112,000. Finally, Headlands Technologies LLC acquired a new position in ProShares UltraPro Short S&P 500 in the fourth quarter valued at $1,627,000.

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.