ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Share Price Cross Below 200 Day Moving Average – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $40.09 and traded as low as $33.87. ProShares UltraPro Short S&P 500 shares last traded at $34.80, with a volume of 7,332,343 shares.

ProShares UltraPro Short S&P 500 Price Performance

The stock has a 50-day moving average of $34.97 and a two-hundred day moving average of $39.95.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXU. Ramsey Quantitative Systems purchased a new position in shares of ProShares UltraPro Short S&P 500 during the second quarter valued at $271,000. NewEdge Advisors LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the first quarter worth approximately $329,000. Optiver Holding B.V. purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $142,000. Group One Trading LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $364,000. Finally, IMC Chicago LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 1st quarter worth approximately $17,942,000.

ProShares UltraPro Short S&P 500 Company Profile

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.