ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Cross Below 200-Day Moving Average – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

ProShares UltraPro Short S&P 500 Stock Performance

The company’s 50 day moving average is $21.35 and its 200 day moving average is $23.64.

Institutional Trading of ProShares UltraPro Short S&P 500

Several institutional investors and hedge funds have recently bought and sold shares of SPXU. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at approximately $301,000. Ridgepath Capital Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth approximately $4,112,000. GW Henssler & Associates Ltd. lifted its holdings in shares of 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 purchasing an additional 3,730 shares during the period. IMC Chicago LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $2,392,000. Finally, Edgestream Partners L.P. purchased a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $287,000.

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.