ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 4% – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) traded down 4% on Wednesday . The company traded as low as $22.94 and last traded at $22.90. 15,337,377 shares traded hands during trading, an increase of 24% from the average session volume of 12,368,769 shares. The stock had previously closed at $23.86.

ProShares UltraPro Short S&P 500 Stock Performance

The business has a 50 day moving average of $21.41 and a two-hundred day moving average of $23.06.

Institutional Trading of ProShares UltraPro Short S&P 500

Several hedge funds have recently modified their holdings of SPXU. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth $301,000. DRW Securities LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at about $1,090,000. Edgestream Partners L.P. acquired a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at about $287,000. Cadent Capital Advisors LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter valued at about $11,379,000. Finally, Ridgepath Capital Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter worth about $4,112,000.

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.