ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Shares Gap Down – Here’s Why

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) shares gapped down before the market opened on Monday . The stock had previously closed at $92.91, but opened at $89.50. ProShares UltraPro S&P 500 shares last traded at $88.29, with a volume of 1,895,856 shares traded.

ProShares UltraPro S&P 500 Stock Down 2.9 %

The company’s 50 day simple moving average is $93.11 and its 200 day simple moving average is $84.44.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

A number of large investors have recently modified their holdings of UPRO. RPg Family Wealth Advisory LLC bought a new position in ProShares UltraPro S&P 500 during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of ProShares UltraPro S&P 500 during the 3rd quarter worth $54,000. Farther Finance Advisors LLC bought a new stake in shares of ProShares UltraPro S&P 500 during the 3rd quarter valued at approximately $60,000. Hantz Financial Services Inc. bought a new stake in ProShares UltraPro S&P 500 during the 2nd quarter worth $93,000. Finally, Strategic Blueprint LLC acquired a new stake in ProShares UltraPro S&P 500 during the 3rd quarter worth approximately $202,000.

About ProShares UltraPro S&P 500

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.