ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Reaches New 52-Week Low – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $41.06 and last traded at $41.29, with a volume of 9362463 shares traded. The stock had previously closed at $42.27.

ProShares UltraPro Short S&P 500 Stock Down 2.3%

The company has a 50 day moving average of $50.54 and a 200 day moving average of $50.37.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors have recently made changes to their positions in the company. IMC Chicago LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at approximately $11,702,000. Sollinda Capital Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at approximately $9,177,000. Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at approximately $7,814,000. Jump Financial LLC increased its holdings 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of ProShares UltraPro Short S&P 500 by 16,249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock valued at $4,354,000 after acquiring an additional 320,273 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.