ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Cross Below 200-Day Moving Average – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.27 and traded as low as $21.47. ProShares UltraPro Short S&P 500 shares last traded at $21.88, with a volume of 13,367,357 shares traded.

ProShares UltraPro Short S&P 500 Stock Up 1.6 %

The company has a 50-day moving average price of $21.36 and a two-hundred day moving average price of $23.27.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at about $301,000. Ridgepath Capital Management LLC purchased a new position in ProShares UltraPro Short S&P 500 in the fourth quarter valued at about $4,112,000. GW Henssler & Associates Ltd. boosted its holdings in ProShares UltraPro Short S&P 500 by 11.3% in the third quarter. GW Henssler & Associates Ltd. now owns 36,632 shares of the exchange traded fund’s stock valued at $888,000 after purchasing an additional 3,730 shares during the last quarter. IMC Chicago LLC purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at about $2,392,000. Finally, Edgestream Partners L.P. purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at about $287,000.

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.