ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Time to Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped down before the market opened on Wednesday . The stock had previously closed at $26.53, but opened at $25.67. ProShares UltraPro Short S&P 500 shares last traded at $26.08, with a volume of 2,302,782 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The business’s 50-day moving average is $21.72 and its 200 day moving average is $22.99.

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

Several institutional investors have recently bought and sold shares of the stock. Edgestream Partners L.P. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at about $287,000. Larson Financial Group LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at about $301,000. Integrated Advisors Network LLC lifted its holdings in ProShares UltraPro Short S&P 500 by 121.7% in the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after buying an additional 12,900 shares during the period. Sollinda Capital Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 4th quarter worth approximately $612,000. Finally, Two Sigma Securities LLC bought a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $721,000.

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.