ProShares Ultra Health Care (NYSEARCA:RXL) Stock Pass Below 50 Day Moving Average – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $48.82 and traded as low as $47.87. ProShares Ultra Health Care shares last traded at $49.41, with a volume of 12,435 shares traded.

ProShares Ultra Health Care Stock Up 0.2 %

The firm has a 50 day moving average price of $48.89 and a 200 day moving average price of $50.82. The stock has a market cap of $84.58 million, a PE ratio of 29.46 and a beta of 1.41.

Hedge Funds Weigh In On ProShares Ultra Health Care

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in ProShares Ultra Health Care by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of ProShares Ultra Health Care by 100.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,156 shares of the company’s stock valued at $51,000 after buying an additional 578 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of ProShares Ultra Health Care by 100.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,824 shares of the company’s stock worth $80,000 after buying an additional 912 shares during the last quarter. Capital Investment Advisory Services LLC raised its stake in shares of ProShares Ultra Health Care by 101.0% during the 4th quarter. Capital Investment Advisory Services LLC now owns 2,251 shares of the company’s stock worth $99,000 after acquiring an additional 1,131 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in ProShares Ultra Health Care by 100.0% during the fourth quarter. Bank of America Corp DE now owns 3,508 shares of the company’s stock valued at $154,000 after acquiring an additional 1,754 shares during the last quarter.

ProShares Ultra Health Care Company Profile

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics.