ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 3.3% – What’s Next?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) were down 3.3% during mid-day trading on Monday . The company traded as low as $18.46 and last traded at $18.30. Approximately 1,700,767 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 11,755,734 shares. The stock had previously closed at $18.92.

ProShares UltraPro Short S&P 500 Price Performance

The business has a fifty day moving average of $22.39 and a 200-day moving average of $22.60.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

Several hedge funds have recently modified their holdings of SPXU. Jump Financial LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth $17,505,000. Boothbay Fund Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter valued at $6,548,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the first quarter valued at $5,441,000. GTS Securities LLC lifted its holdings in shares of ProShares UltraPro Short S&P 500 by 2,456.3% in the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after purchasing an additional 185,645 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $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.