ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Cross Above 50 Day Moving Average – Here’s Why

Shares of ProShares Ultra Health Care (NYSEARCA:RXL) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $57.83 and traded as high as $58.74. ProShares Ultra Health Care shares last traded at $58.71, with a volume of 4,913 shares trading hands.

ProShares Ultra Health Care Stock Down 0.6%

The firm has a market cap of $89.29 million, a PE ratio of 24.86 and a beta of 1.12. The company’s 50 day moving average price is $57.91 and its two-hundred day moving average price is $51.36.

Institutional Trading of ProShares Ultra Health Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXL. Citadel Advisors LLC boosted its position in shares of ProShares Ultra Health Care by 12.7% during the second quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock valued at $492,000 after buying an additional 1,042 shares during the period. Csenge Advisory Group purchased a new stake in shares of ProShares Ultra Health Care in the fourth quarter worth approximately $297,000. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Health Care in the first quarter worth approximately $3,103,000.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.