ProShares Ultra Health Care (NYSEARCA:RXL) Share Price Pass Below 200-Day Moving Average – Should You Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.07 and traded as low as $41.82. ProShares Ultra Health Care shares last traded at $41.86, with a volume of 25,983 shares changing hands.

ProShares Ultra Health Care Trading Down 11.1 %

The stock has a market cap of $71.58 million, a price-to-earnings ratio of 28.35 and a beta of 1.41. The company’s fifty day moving average is $49.33 and its two-hundred day moving average is $50.07.

ProShares Ultra Health Care Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.1344 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Trading of ProShares Ultra Health Care

A number of large investors have recently modified their holdings of RXL. First Manhattan CO. LLC. raised its stake in ProShares Ultra Health Care by 100.0% in the fourth quarter. First Manhattan CO. LLC. now owns 10,644 shares of the company’s stock valued at $468,000 after buying an additional 5,322 shares in the last quarter. Citadel Advisors LLC increased its position in shares of ProShares Ultra Health Care by 26.5% during the fourth quarter. Citadel Advisors LLC now owns 4,756 shares of the company’s stock worth $209,000 after purchasing an additional 995 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of ProShares Ultra Health Care by 100.0% in the 4th quarter. Bank of America Corp DE now owns 3,508 shares of the company’s stock valued at $154,000 after purchasing an additional 1,754 shares during the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of ProShares Ultra Health Care by 100.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,156 shares of the company’s stock valued at $51,000 after purchasing an additional 578 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in ProShares Ultra Health Care by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock worth $26,000 after buying an additional 500 shares during the last quarter.

About ProShares Ultra Health Care

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.