Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $36.04, but opened at $37.46. ProShares UltraPro Short S&P 500 shares last traded at $37.35, with a volume of 3,199,529 shares.
ProShares UltraPro Short S&P 500 Stock Performance
The stock’s 50-day moving average price is $35.00 and its 200-day moving average price is $43.90.
Hedge Funds Weigh In On ProShares UltraPro Short S&P 500
A number of large investors have recently modified their holdings of SPXU. Avior Wealth Management LLC raised its stake in shares of ProShares UltraPro Short S&P 500 by 82.6% during the third quarter. Avior Wealth Management LLC now owns 19,900 shares of the exchange traded fund’s stock worth $238,000 after buying an additional 9,000 shares during the last quarter. Group One Trading L.P. increased its stake in ProShares UltraPro Short S&P 500 by 144.7% in the third quarter. Group One Trading L.P. now owns 41,564 shares of the exchange traded fund’s stock valued at $497,000 after purchasing an additional 24,579 shares in the last quarter. Fifth Third Bancorp increased its stake in ProShares UltraPro Short S&P 500 by 47.7% in the third quarter. Fifth Third Bancorp now owns 26,821 shares of the exchange traded fund’s stock valued at $321,000 after purchasing an additional 8,656 shares in the last quarter. Lane Generational LLC bought a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $4,458,000. Finally, Simplex Trading LLC bought a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $2,245,000.
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.
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