ProShares Ultra Health Care (NYSEARCA:RXL) Shares Cross Below 50-Day Moving Average – What’s Next?

Shares of ProShares Ultra Health Care (NYSEARCA:RXL) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $55.40 and traded as low as $50.47. ProShares Ultra Health Care shares last traded at $50.47, with a volume of 1,734 shares.

ProShares Ultra Health Care Stock Down 3.4 %

The company has a 50 day simple moving average of $55.26 and a two-hundred day simple moving average of $53.15.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares Ultra Health Care stock. Jane Street Group LLC bought a new stake in shares of ProShares Ultra Health Care (NYSEARCA:RXL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,251 shares of the company’s stock, valued at approximately $364,000. Jane Street Group LLC owned about 0.36% of ProShares Ultra Health Care as of its most recent filing with the Securities and Exchange Commission.

About ProShares Ultra Health Care

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.