ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Pass Below 200 Day Moving Average – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.74 and traded as low as $20.09. ProShares UltraPro Short S&P 500 shares last traded at $20.21, with a volume of 11,662,667 shares traded.

ProShares UltraPro Short S&P 500 Price Performance

The company’s fifty day simple moving average is $21.40 and its 200 day simple moving average is $23.74.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $721,000. Headlands Technologies LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $1,627,000. Axxcess Wealth Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $4,112,000. Sollinda Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $612,000. Finally, Ridgepath Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $4,112,000.

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.