ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Up 3.9% – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL)’s share price rose 3.9% during mid-day trading on Monday. The company traded as high as $72.79 and last traded at $72.52. Approximately 12,121 shares changed hands during trading, an increase of 4% from the average daily volume of 11,710 shares. The stock had previously closed at $69.78.

ProShares Ultra Health Care Price Performance

The firm has a fifty day simple moving average of $62.27 and a 200 day simple moving average of $53.73. The company has a market cap of $117.48 million, a price-to-earnings ratio of 24.86 and a beta of 1.05.

Institutional Trading of ProShares Ultra Health Care

A number of institutional investors and hedge funds have recently modified their holdings of RXL. Toth Financial Advisory Corp acquired a new position in ProShares Ultra Health Care in the 3rd quarter valued at $535,000. Citadel Advisors LLC lifted its position in ProShares Ultra Health Care by 12.7% during the 2nd quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock worth $492,000 after acquiring an additional 1,042 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in ProShares Ultra Health Care by 2.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,859 shares of the company’s stock worth $576,000 after acquiring an additional 212 shares during the last quarter. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Health Care during the 1st quarter worth $3,103,000.

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.