ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up to $6.51

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXUGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $6.51, but opened at $6.66. ProShares UltraPro Short S&P 500 shares last traded at $6.69, with a volume of 2,807,374 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The firm’s fifty day simple moving average is $7.27 and its 200-day simple moving average is $9.31.

ProShares UltraPro Short S&P 500 shares are going to reverse split on the morning of Wednesday, April 10th. The 1-5 reverse split was announced on Wednesday, April 10th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, April 10th.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in shares of ProShares UltraPro Short S&P 500 by 377.8% in the first quarter. Citigroup Inc. now owns 4,300 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 3,400 shares during the period. Credit Suisse AG bought a new position in ProShares UltraPro Short S&P 500 during the 4th quarter valued at $94,000. Goldman Sachs Group Inc. bought a new position in ProShares UltraPro Short S&P 500 during the 2nd quarter valued at $202,000. Arete Wealth Advisors LLC bought a new position in ProShares UltraPro Short S&P 500 during the 1st quarter valued at $137,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the 1st quarter worth about $136,000.

ProShares UltraPro Short S&P 500 Company Profile

(Get Free Report)

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.

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