ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Cross Below 200-Day Moving Average – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.77 and traded as low as $22.99. ProShares UltraPro Short S&P 500 shares last traded at $23.59, with a volume of 11,160,069 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Up 2.4 %

The firm’s 50 day simple moving average is $26.69 and its 200-day simple moving average is $29.77.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lane Generational LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 1st quarter worth $3,771,000. Squarepoint Ops LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the second quarter worth about $5,618,000. Montchanin Asset Management LLC acquired a new position in ProShares UltraPro Short S&P 500 in the 1st quarter valued at about $510,000. Vima LLC acquired a new position in ProShares UltraPro Short S&P 500 in the 1st quarter valued at about $441,000. Finally, Integrated Advisors Network LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter valued at approximately $298,000.

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.