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

ProShares Ultra Health Care (NYSEARCA:RXL) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $53.99 and traded as high as $60.10. ProShares Ultra Health Care shares last traded at $59.76, with a volume of 11,225 shares trading hands.

ProShares Ultra Health Care Stock Performance

The company’s fifty day moving average price is $54.29 and its two-hundred day moving average price is $50.22. The firm has a market capitalization of $94.39 million, a PE ratio of 24.86 and a beta of 1.12.

Hedge Funds Weigh In On ProShares Ultra Health Care

Hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC purchased a new stake in ProShares Ultra Health Care during the first quarter valued at about $3,103,000. Osaic Holdings Inc. raised 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 purchasing an additional 13,242 shares during the period. Susquehanna International Group LLP acquired a new position in shares of ProShares Ultra Health Care in the 3rd quarter valued at about $267,000. Finally, Csenge Advisory Group acquired a new position in shares of ProShares Ultra Health Care in the 4th quarter valued at about $297,000.

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.