ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 4.1% – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares dropped 4.1% during mid-day trading on Monday . The company traded as low as $53.77 and last traded at $53.8080. Approximately 5,527,425 shares traded hands during trading, an increase of 1% from the average daily volume of 5,473,871 shares. The stock had previously closed at $56.11.

ProShares UltraPro Short S&P 500 Stock Down 4.4%

The stock’s fifty day moving average price is $53.62 and its 200 day moving average price is $63.12.

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

A number of institutional investors have recently modified their holdings of SPXU. Parallel Advisors LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the second quarter valued at approximately $46,000. GW Henssler & Associates Ltd. increased its holdings in ProShares UltraPro Short S&P 500 by 31.5% during the 1st quarter. GW Henssler & Associates Ltd. now owns 48,185 shares of the exchange traded fund’s stock worth $1,230,000 after purchasing an additional 11,553 shares during the period. Beacon Financial Group purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter worth $371,000. Simplex Trading LLC grew its position in shares of ProShares UltraPro Short S&P 500 by 338.2% during the 1st quarter. Simplex Trading LLC now owns 48,683 shares of the exchange traded fund’s stock worth $1,242,000 after buying an additional 37,574 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at $929,000.

About ProShares UltraPro Short S&P 500

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.