ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Cross Above 50-Day Moving Average – Time to Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $48.16 and traded as high as $51.67. ProShares Ultra Health Care shares last traded at $51.24, with a volume of 15,390 shares traded.

ProShares Ultra Health Care Stock Performance

The firm has a 50-day moving average of $48.28 and a 200-day moving average of $51.27. The firm has a market capitalization of $83.01 million, a P/E ratio of 31.54 and a beta of 1.42.

Hedge Funds Weigh In On ProShares Ultra Health Care

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its stake in shares of ProShares Ultra Health Care by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock worth $26,000 after acquiring an additional 500 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in ProShares Ultra Health Care by 100.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,156 shares of the company’s stock worth $51,000 after purchasing an additional 578 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its position in ProShares Ultra Health Care by 100.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,824 shares of the company’s stock worth $80,000 after purchasing an additional 912 shares during the period. Citadel Advisors LLC raised its stake in ProShares Ultra Health Care by 26.5% during the 4th quarter. Citadel Advisors LLC now owns 4,756 shares of the company’s stock valued at $209,000 after buying an additional 995 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its holdings in shares of ProShares Ultra Health Care by 101.0% during the 4th quarter. Capital Investment Advisory Services LLC now owns 2,251 shares of the company’s stock valued at $99,000 after buying an additional 1,131 shares during the period.

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.