ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.99, but opened at $8.71. ProShares UltraPro Short S&P 500 shares last traded at $8.72, with a volume of 8,695 shares changing hands.

The firm’s 50-day moving average price is $8.96 and its 200-day moving average price is $15.46.

Hedge funds have recently bought and sold shares of the stock. American National Bank boosted its stake in ProShares UltraPro Short S&P 500 by 165.8% during the second quarter. American National Bank now owns 3,189 shares of the exchange traded fund’s stock worth $38,000 after buying an additional 1,989 shares during the period. Citizens Financial Group Inc RI purchased a new position in ProShares UltraPro Short S&P 500 during the second quarter worth $46,000. Advisor Group Holdings Inc. purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter worth $51,000. Evolution Wealth Advisors LLC purchased a new position in ProShares UltraPro Short S&P 500 during the second quarter worth $83,000. Finally, US Bancorp DE purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter worth $96,000.

About ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

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.

Further Reading: What does a dividend yield signify to investors?

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