ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Cross Below 200-Day Moving Average of $37.00

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $37.00 and traded as low as $29.06. ProShares UltraPro Short S&P 500 shares last traded at $29.31, with a volume of 8,451,203 shares.

ProShares UltraPro Short S&P 500 Stock Performance

The company has a 50 day moving average price of $32.96 and a 200-day moving average price of $37.00.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. QCM Cayman Ltd. purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $75,000. Adalta Capital Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter valued at $99,000. LB Partners LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at $172,000. XR Securities LLC bought a new position in ProShares UltraPro Short S&P 500 in the 4th quarter worth $193,000. Finally, Essex LLC increased its stake in ProShares UltraPro Short S&P 500 by 28.0% in the 4th quarter. Essex LLC now owns 22,863 shares of the exchange traded fund’s stock worth $197,000 after buying an additional 5,000 shares in the last quarter.

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.