ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Cross Below 200-Day Moving Average – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.15 and traded as low as $19.52. ProShares UltraPro Short S&P 500 shares last traded at $19.76, with a volume of 16,305,055 shares.

ProShares UltraPro Short S&P 500 Stock Down 1.9%

The firm’s fifty day moving average is $25.71 and its 200 day moving average is $23.15.

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

Several large investors have recently bought and sold shares of SPXU. Cadent Capital Advisors LLC grew its holdings in shares of ProShares UltraPro Short S&P 500 by 4.4% during the first quarter. Cadent Capital Advisors LLC now owns 527,078 shares of the exchange traded fund’s stock worth $13,456,000 after buying an additional 21,997 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter valued at about $5,441,000. GTS Securities LLC grew its stake in ProShares UltraPro Short S&P 500 by 2,456.3% during the 4th quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after acquiring an additional 185,645 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $4,112,000. Finally, Ridgepath Capital Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $4,112,000.

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.