ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Up 5.3% – Still a Buy?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) rose 5.3% on Friday . The stock traded as high as $14.08 and last traded at $13.96. Approximately 35,993,196 shares changed hands during trading, an increase of 90% from the average daily volume of 18,958,727 shares. The stock had previously closed at $13.26.

ProShares UltraPro Short S&P 500 Stock Performance

The company has a 50-day moving average of $14.57 and a two-hundred day moving average of $18.70.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the second quarter valued at approximately $46,000. GW Henssler & Associates Ltd. raised its stake in ProShares UltraPro Short S&P 500 by 31.5% during the first quarter. GW Henssler & Associates Ltd. now owns 48,185 shares of the exchange traded fund’s stock valued at $1,230,000 after buying an additional 11,553 shares during the last quarter. Beacon Financial Group purchased a new position in ProShares UltraPro Short S&P 500 during the second quarter valued at $371,000. Simplex Trading LLC raised its stake in ProShares UltraPro Short S&P 500 by 338.2% during the first quarter. Simplex Trading LLC now owns 48,683 shares of the exchange traded fund’s stock valued at $1,242,000 after buying an additional 37,574 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at $929,000.

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.