ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped down prior to trading on Monday . The stock had previously closed at $8.99, but opened at $8.71. ProShares UltraPro Short S&P 500 shares last traded at $8.72, with a volume of 8,695 shares trading hands.

The stock’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $15.46.

Several hedge funds and other institutional investors have recently modified their holdings of SPXU. Sowell Financial Services LLC lifted its holdings in ProShares UltraPro Short S&P 500 by 2,154.8% during the first quarter. Sowell Financial Services LLC now owns 12,514 shares of the exchange traded fund’s stock valued at $302,000 after purchasing an additional 11,959 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in ProShares UltraPro Short S&P 500 during the first quarter worth about $122,000. American National Bank boosted its stake in ProShares UltraPro Short S&P 500 by 165.8% during the second quarter. American National Bank now owns 3,189 shares of the exchange traded fund’s stock worth $38,000 after acquiring an additional 1,989 shares in the last quarter. Simplex Trading LLC boosted its stake in ProShares UltraPro Short S&P 500 by 6.5% during the second quarter. Simplex Trading LLC now owns 170,743 shares of the exchange traded fund’s stock worth $2,014,000 after acquiring an additional 10,455 shares in the last quarter. Finally, UBS Group AG boosted its stake in ProShares UltraPro Short S&P 500 by 1,591.6% during the second quarter. UBS Group AG now owns 174,135 shares of the exchange traded fund’s stock worth $2,055,000 after acquiring an additional 163,841 shares in the last quarter.

About ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

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.

See Also: Short Selling – Explanation For Shorting Stocks

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