ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 5.9% – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price dropped 5.9% on Thursday . The stock traded as low as $39.10 and last traded at $38.7140. Approximately 14,627,310 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 8,887,653 shares. The stock had previously closed at $41.13.

ProShares UltraPro Short S&P 500 Price Performance

The stock has a 50 day moving average of $42.70 and a 200 day moving average of $47.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in ProShares UltraPro Short S&P 500 in the first quarter valued at $142,000. SG Americas Securities LLC bought a new position in ProShares UltraPro Short S&P 500 in the first quarter valued at $155,000. SBI Securities Co. Ltd. grew its stake in shares of ProShares UltraPro Short S&P 500 by 620.0% during the third quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 4,129 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at about $329,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of ProShares UltraPro Short S&P 500 by 18.7% during the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after buying an additional 975 shares during the last quarter.

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.