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

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.64 and traded as low as $33.86. ProShares UltraPro Short S&P 500 shares last traded at $34.04, with a volume of 5,877,246 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Performance

The stock has a 50 day moving average of $36.28 and a 200 day moving average of $42.58.

Institutional Trading of ProShares UltraPro Short S&P 500

A number of large investors have recently modified their holdings of SPXU. EverSource Wealth Advisors LLC boosted its stake in ProShares UltraPro Short S&P 500 by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 975 shares during the period. Optiver Holding B.V. bought a new position in ProShares UltraPro Short S&P 500 in the 1st quarter worth about $142,000. SG Americas Securities LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter valued at approximately $155,000. Bank of America Corp DE bought a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $177,000. Finally, Ramsey Quantitative Systems bought a new stake in shares of ProShares UltraPro Short S&P 500 during the second quarter valued at approximately $271,000.

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.