ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 5.9% – Should You Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) were down 5.9% during mid-day trading on Thursday . The stock traded as low as $39.10 and last traded at $38.7140. Approximately 14,627,310 shares traded hands during trading, an increase of 65% from the average daily volume of 8,887,653 shares. The stock had previously closed at $41.13.

ProShares UltraPro Short S&P 500 Stock Performance

The firm has a 50-day moving average price of $42.01 and a 200-day moving average price of $47.56.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth $329,000. Optiver Holding B.V. bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth $142,000. Group One Trading LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter worth $364,000. IMC Chicago LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter worth $17,942,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter worth $511,000.

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.