ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Cross Above 50-Day Moving Average – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $45.74 and traded as high as $45.87. ProShares Ultra Health Care shares last traded at $45.72, with a volume of 2,427 shares traded.

ProShares Ultra Health Care Price Performance

The business has a 50 day simple moving average of $45.74 and a 200 day simple moving average of $49.62. The company has a market capitalization of $74.07 million, a price-to-earnings ratio of 24.86 and a beta of 1.16.

Hedge Funds Weigh In On ProShares Ultra Health Care

Several institutional investors have recently modified their holdings of RXL. Susquehanna International Group LLP acquired a new position in shares of ProShares Ultra Health Care in the third quarter worth $267,000. Toth Financial Advisory Corp grew its stake in shares of ProShares Ultra Health Care by 4.7% during the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock worth $477,000 after purchasing an additional 412 shares in the last quarter. Csenge Advisory Group purchased a new stake in ProShares Ultra Health Care in the fourth quarter valued at $297,000. Osaic Holdings Inc. lifted its position in ProShares Ultra Health Care by 604.9% in the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock valued at $799,000 after acquiring an additional 13,242 shares during the last quarter. Finally, IMC Chicago LLC purchased a new stake in ProShares Ultra Health Care in the first quarter valued at $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.