ProShares Ultra Health Care (NYSEARCA:RXL) Share Price Cross Below 50-Day Moving Average – What’s Next?

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $59.04 and traded as low as $56.98. ProShares Ultra Health Care shares last traded at $57.72, with a volume of 2,508 shares trading hands.

ProShares Ultra Health Care Price Performance

The company has a market capitalization of $92.76 million, a P/E ratio of 24.86 and a beta of 1.10. The company has a 50 day moving average of $59.06 and a 200-day moving average of $52.24.

Institutional Trading of ProShares Ultra Health Care

Several large investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp bought a new position in ProShares Ultra Health Care in the 3rd quarter worth $535,000. Envestnet Asset Management Inc. increased its position in shares of ProShares Ultra Health Care by 2.0% during the second quarter. Envestnet Asset Management Inc. now owns 10,859 shares of the company’s stock valued at $576,000 after buying an additional 212 shares during the period. Citadel Advisors LLC raised its stake in ProShares Ultra Health Care by 12.7% in the second quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock worth $492,000 after buying an additional 1,042 shares in the last quarter. Finally, IMC Chicago LLC purchased a new stake in ProShares Ultra Health Care in the first quarter worth about $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.