ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Up 5% – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shot up 5% during mid-day trading on Thursday . The company traded as high as $13.25 and last traded at $13.2160. 19,324,847 shares traded hands during trading, a decline of 8% from the average session volume of 20,990,182 shares. The stock had previously closed at $12.59.

ProShares UltraPro Short S&P 500 Stock Up 5.2%

The stock’s 50 day simple moving average is $13.53 and its two-hundred day simple moving average is $16.28.

Shares of ProShares UltraPro Short S&P 500 are scheduled to reverse split on Thursday, November 20th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 19th.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at $27,000. Parallel Advisors LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the second quarter valued at $46,000. Optiver Holding B.V. bought a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $38,000. SBI Securities Co. Ltd. increased its stake in shares of ProShares UltraPro Short S&P 500 by 620.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 4,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of ProShares UltraPro Short S&P 500 by 18.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 975 shares during the period.

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.