ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading 5.7% Higher – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) rose 5.7% during mid-day trading on Monday . The company traded as high as $28.88 and last traded at $29.25. Approximately 1,766,054 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 10,433,521 shares. The stock had previously closed at $27.68.

ProShares UltraPro Short S&P 500 Trading Up 7.5 %

The business’s fifty day moving average price is $25.05 and its two-hundred day moving average price is $23.16.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors have recently bought and sold shares of SPXU. Cadent Capital Advisors LLC grew its holdings in ProShares UltraPro Short S&P 500 by 4.4% during the first quarter. Cadent Capital Advisors LLC now owns 527,078 shares of the exchange traded fund’s stock worth $13,456,000 after acquiring an additional 21,997 shares during the period. GTS Securities LLC grew its stake in shares of ProShares UltraPro Short S&P 500 by 2,456.3% during the 4th quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock worth $4,362,000 after purchasing an additional 185,645 shares during the period. Ridgepath Capital Management LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at approximately $4,112,000. Axxcess Wealth Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth $4,112,000. Finally, Gainplan LLC purchased a new position in ProShares UltraPro Short S&P 500 in the first quarter valued at $1,915,000.

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.