ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Share Price Pass Below 200 Day Moving Average – Time to Sell?
by Tristan Rich · The Markets DailyProShares UltraPro Short S&P 500 (NYSEARCA:SPXU – Get Free Report)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $57.76 and traded as low as $48.57. ProShares UltraPro Short S&P 500 shares last traded at $49.72, with a volume of 2,956,497 shares changing hands.
ProShares UltraPro Short S&P 500 Stock Down 1.3%
The company’s fifty day moving average price is $51.19 and its two-hundred day moving average price is $57.70.
Institutional Trading of ProShares UltraPro Short S&P 500
A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 320,273 shares during the period. XTX Topco Ltd bought a new position in ProShares UltraPro Short S&P 500 in the third quarter worth approximately $1,180,000. Bank of America Corp DE bought a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $177,000. Tower Research Capital LLC TRC grew its holdings in ProShares UltraPro Short S&P 500 by 208.9% during the third quarter. Tower Research Capital LLC TRC now owns 166,275 shares of the exchange traded fund’s stock worth $2,246,000 after buying an additional 112,444 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of 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 in 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.