ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Cross Above 50 Day Moving Average – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $34.40 and traded as high as $36.72. ProShares UltraPro Short S&P 500 shares last traded at $36.00, with a volume of 14,629,835 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The stock has a 50-day moving average of $34.40 and a 200 day moving average of $41.26.

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

Institutional investors have recently modified their holdings of the company. IMC Chicago LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter worth about $17,942,000. Group One Trading LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $364,000. NewEdge Advisors LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the first quarter valued at approximately $329,000. Ramsey Quantitative Systems bought a new position in shares of ProShares UltraPro Short S&P 500 during the 2nd quarter valued at about $271,000. Finally, SG Americas Securities LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 1st quarter valued at about $155,000.

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.