ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up to $14.69

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXUGet Rating)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $14.69, but opened at $15.17. ProShares UltraPro Short S&P 500 shares last traded at $15.19, with a volume of 3,349,102 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Performance

The business has a 50 day moving average of $15.79 and a 200 day moving average of $16.97.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXU. Bank of New York Mellon Corp bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 1st quarter valued at approximately $202,000. Citigroup Inc. lifted its stake in shares of ProShares UltraPro Short S&P 500 by 377.8% in the 1st quarter. Citigroup Inc. now owns 4,300 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 3,400 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 1st quarter valued at approximately $136,000. Main Street Financial Solutions LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter valued at approximately $620,000. Finally, Cutter & CO Brokerage Inc. lifted its stake in shares of ProShares UltraPro Short S&P 500 by 9.6% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,925 shares of the exchange traded fund’s stock valued at $464,000 after purchasing an additional 2,000 shares during the last quarter.

About ProShares UltraPro Short S&P 500

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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

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