ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Pass Below 200-Day Moving Average – Should You Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.76 and traded as low as $21.12. ProShares UltraPro Short S&P 500 shares last traded at $21.32, with a volume of 9,960,180 shares.

ProShares UltraPro Short S&P 500 Stock Down 2.8 %

The firm’s fifty day moving average price is $21.83 and its 200 day moving average price is $24.76.

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

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter valued at $5,618,000. GW Henssler & Associates Ltd. boosted its holdings in ProShares UltraPro Short S&P 500 by 11.3% during the third quarter. GW Henssler & Associates Ltd. now owns 36,632 shares of the exchange traded fund’s stock worth $888,000 after buying an additional 3,730 shares in the last quarter. IMC Chicago LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the third quarter worth about $2,392,000. Larson Financial Group LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at about $301,000. Finally, DRW Securities LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at about $1,090,000.

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.