ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Cross Above 50 Day Moving Average – Time to Sell?

ProShares Ultra Health Care (NYSEARCA:RXL)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $48.16 and traded as high as $51.67. ProShares Ultra Health Care shares last traded at $51.24, with a volume of 15,390 shares changing hands.

ProShares Ultra Health Care Stock Performance

The firm has a market capitalization of $83.01 million, a P/E ratio of 31.54 and a beta of 1.42. The company has a 50-day simple moving average of $48.16 and a two-hundred day simple moving average of $51.34.

Institutional Investors Weigh In On ProShares Ultra Health Care

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in ProShares Ultra Health Care by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock worth $26,000 after purchasing an additional 500 shares during the period. Coppell Advisory Solutions LLC grew its stake in shares of ProShares Ultra Health Care by 100.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,156 shares of the company’s stock worth $51,000 after buying an additional 578 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in ProShares Ultra Health Care by 100.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,824 shares of the company’s stock valued at $80,000 after buying an additional 912 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in ProShares Ultra Health Care by 101.0% during the fourth quarter. Capital Investment Advisory Services LLC now owns 2,251 shares of the company’s stock valued at $99,000 after buying an additional 1,131 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in ProShares Ultra Health Care by 100.0% in the fourth quarter. Bank of America Corp DE now owns 3,508 shares of the company’s stock worth $154,000 after acquiring an additional 1,754 shares in the last quarter.

ProShares Ultra Health Care Company Profile

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics.