ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $55.24, but opened at $52.71. ProShares UltraPro Short S&P 500 shares last traded at $52.2380, with a volume of 1,746,318 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Down 2.9%

The company has a fifty day simple moving average of $53.62 and a 200 day simple moving average of $63.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at $27,000. Parallel Advisors LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter worth $46,000. Optiver Holding B.V. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth $38,000. SBI Securities Co. Ltd. increased its holdings in shares of ProShares UltraPro Short S&P 500 by 620.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 4,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of ProShares UltraPro Short S&P 500 by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after buying an additional 975 shares in the last quarter.

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.