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

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXUGet Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $58.03, but opened at $55.46. ProShares UltraPro Short S&P 500 shares last traded at $55.83, with a volume of 7,919,118 shares changing hands.

ProShares UltraPro Short S&P 500 Stock Down 2.3%

The stock has a 50-day moving average of $50.15 and a 200 day moving average of $51.58.

ProShares UltraPro Short S&P 500 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.4452 per share. The ex-dividend date is Wednesday, March 25th. This represents a $1.78 annualized dividend and a dividend yield of 3.2%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $11,702,000. Sollinda Capital Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 3rd quarter worth $9,177,000. Axxcess Wealth Management LLC bought a new position in ProShares UltraPro Short S&P 500 during the third quarter worth about $7,814,000. Ridgepath Capital Management LLC bought a new position in ProShares UltraPro Short S&P 500 during the third quarter worth about $7,814,000. Finally, Jump Financial LLC grew its stake in ProShares UltraPro Short S&P 500 by 25.4% in the third 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 during the period.

ProShares UltraPro Short S&P 500 Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for ProShares UltraPro Short S&P 500 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares UltraPro Short S&P 500 and related companies with MarketBeat.com's FREE daily email newsletter.