ProShares Ultra Health Care (NYSEARCA:RXL) Shares Cross Below Fifty Day Moving Average – What’s Next?

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $57.61 and traded as low as $57.20. ProShares Ultra Health Care shares last traded at $57.32, with a volume of 12,276 shares changing hands.

ProShares Ultra Health Care Trading Down 0.3%

The business’s fifty day moving average is $57.62 and its 200 day moving average is $51.21. The firm has a market capitalization of $86.34 million, a P/E ratio of 24.86 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new stake in shares of ProShares Ultra Health Care during the 3rd quarter valued at $267,000. Csenge Advisory Group bought a new stake in shares of ProShares Ultra Health Care during the 4th quarter worth $297,000. Citadel Advisors LLC grew its holdings in shares of ProShares Ultra Health Care by 12.7% in the 2nd quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock worth $492,000 after acquiring an additional 1,042 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of ProShares Ultra Health Care by 604.9% in the 4th quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after acquiring an additional 13,242 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Health Care during the first quarter worth $3,103,000.

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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.