ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Share Price Pass Below 200-Day Moving Average – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $52.69 and traded as low as $47.64. ProShares UltraPro Short S&P 500 shares last traded at $47.76, with a volume of 4,114,368 shares.

ProShares UltraPro Short S&P 500 Stock Down 2.5%

The firm’s 50-day simple moving average is $48.66 and its 200 day simple moving average is $52.69.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 3rd quarter worth about $11,702,000. Sollinda Capital Management LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter worth approximately $9,177,000. Axxcess Wealth Management LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $7,814,000. Ridgepath Capital Management LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $7,814,000. Finally, Jump Financial LLC lifted its position in shares of ProShares UltraPro Short S&P 500 by 25.4% in the 3rd quarter. Jump Financial LLC now owns 547,150 shares of the exchange traded fund’s stock valued at $7,392,000 after acquiring an additional 110,880 shares in the last quarter.

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.