ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Down 4% – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) were down 4% during trading on Wednesday . The company traded as low as $22.94 and last traded at $22.90. Approximately 15,337,377 shares were traded during trading, an increase of 24% from the average daily volume of 12,368,769 shares. The stock had previously closed at $23.86.

ProShares UltraPro Short S&P 500 Trading Down 1.5 %

The company’s fifty day simple moving average is $21.52 and its two-hundred day simple moving average is $23.07.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at approximately $287,000. Larson Financial Group LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter worth $301,000. Integrated Advisors Network LLC lifted its position in shares of ProShares UltraPro Short S&P 500 by 121.7% in the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after buying an additional 12,900 shares during the last quarter. Sollinda Capital Management LLC bought a new position in shares of ProShares UltraPro Short S&P 500 in the 4th quarter worth about $612,000. Finally, Two Sigma Securities LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the 4th quarter valued at about $721,000.

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.