ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Up 5.6% – What’s Next?
by Kim Johansen · The Markets DailyProShares UltraPro Short S&P 500 (NYSEARCA:SPXU – Get Free Report)’s stock price shot up 5.6% during mid-day trading on Friday . The company traded as high as $61.31 and last traded at $61.6210. 8,790,032 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 7,596,657 shares. The stock had previously closed at $58.38.
ProShares UltraPro Short S&P 500 Trading Up 5.2%
The stock has a 50-day moving average price of $50.51 and a 200 day moving average price of $51.65.
ProShares UltraPro Short S&P 500 Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.4452 per share. This represents a $1.78 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, March 25th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter worth $27,000. Optiver Holding B.V. acquired a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter worth $38,000. SBI Securities Co. Ltd. boosted its stake in ProShares UltraPro Short S&P 500 by 620.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 4,129 shares during the period. EverSource Wealth Advisors LLC increased its holdings in ProShares UltraPro Short S&P 500 by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock worth $104,000 after purchasing an additional 975 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. bought a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter worth about $157,000.
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.