ProShares Ultra Health Care (NYSEARCA:RXL) Shares Pass Above Fifty Day Moving Average – Time to Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $51.58 and traded as high as $55.42. ProShares Ultra Health Care shares last traded at $55.10, with a volume of 8,233 shares.

ProShares Ultra Health Care Stock Down 1.3%

The stock has a market cap of $84.30 million, a PE ratio of 24.86 and a beta of 1.13. The company’s fifty day moving average is $51.58 and its 200 day moving average is $49.76.

Hedge Funds Weigh In On ProShares Ultra Health Care

A number of hedge funds have recently made changes to their positions in RXL. IMC Chicago LLC acquired a new position in ProShares Ultra Health Care during the 1st quarter worth approximately $3,103,000. Osaic Holdings Inc. boosted its holdings in ProShares Ultra Health Care by 604.9% in the 4th quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after acquiring an additional 13,242 shares during the period. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Health Care in the third quarter valued at approximately $267,000. Csenge Advisory Group purchased a new stake in shares of ProShares Ultra Health Care during the fourth quarter valued at approximately $297,000. Finally, Toth Financial Advisory Corp lifted its position in shares of ProShares Ultra Health Care by 4.7% during the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock worth $477,000 after purchasing an additional 412 shares in the last quarter.

ProShares Ultra Health Care Company Profile

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.