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

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $39.18 and traded as low as $32.98. ProShares UltraPro Short S&P 500 shares last traded at $33.38, with a volume of 10,536,201 shares traded.

ProShares UltraPro Short S&P 500 Price Performance

The company has a 50-day moving average price of $34.34 and a two-hundred day moving average price of $39.14.

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

Several institutional investors have recently added to or reduced their stakes in SPXU. Optiver Holding B.V. acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth approximately $142,000. SG Americas Securities LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the 1st quarter valued at $155,000. NewEdge Advisors LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the 1st quarter valued at $329,000. Group One Trading LLC bought a new position in ProShares UltraPro Short S&P 500 during the first quarter worth $364,000. Finally, Ramsey Quantitative Systems acquired a new stake in ProShares UltraPro Short S&P 500 in the second quarter worth $271,000.

About ProShares UltraPro Short S&P 500

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.