ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Break Below 200-Day Moving Average – Here’s What Happened

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $38.30 and traded as low as $33.58. ProShares UltraPro Short S&P 500 shares last traded at $34.87, with a volume of 13,126,661 shares.

ProShares UltraPro Short S&P 500 Price Performance

The firm has a 50-day moving average of $34.29 and a two-hundred day moving average of $38.30.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 1st quarter worth about $142,000. SG Americas Securities LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth about $155,000. Ramsey Quantitative Systems acquired a new stake in ProShares UltraPro Short S&P 500 during the 2nd quarter worth approximately $271,000. NewEdge Advisors LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter worth approximately $329,000. Finally, Group One Trading LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter worth $364,000.

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.