ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped up prior to trading on Tuesday . The stock had previously closed at $23.01, but opened at $23.51. ProShares UltraPro Short S&P 500 shares last traded at $24.32, with a volume of 4,407,476 shares trading hands.

ProShares UltraPro Short S&P 500 Trading Up 1.2 %

The company’s fifty day simple moving average is $21.35 and its 200-day simple moving average is $23.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Cadent Capital Advisors LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 4th quarter worth $11,379,000. GTS Securities LLC raised its holdings in ProShares UltraPro Short S&P 500 by 2,456.3% in the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after acquiring an additional 185,645 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $4,112,000. Ridgepath Capital Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $4,112,000. Finally, Headlands Technologies LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter worth $1,627,000.

ProShares UltraPro Short S&P 500 Company Profile

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.