ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading 3.7% Higher – Here’s What Happened

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price traded up 3.7% during trading on Thursday . The stock traded as high as $27.09 and last traded at $27.12. 7,330,730 shares changed hands during trading, a decline of 43% from the average session volume of 12,853,806 shares. The stock had previously closed at $26.14.

ProShares UltraPro Short S&P 500 Stock Performance

The firm’s 50 day moving average price is $21.88 and its 200 day moving average price is $23.04.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Edgestream Partners L.P. bought a new position in ProShares UltraPro Short S&P 500 in the third quarter worth about $287,000. Larson Financial Group LLC bought a new position in ProShares UltraPro Short S&P 500 in the third quarter worth about $301,000. Integrated Advisors Network LLC raised its stake in ProShares UltraPro Short S&P 500 by 121.7% in the fourth 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 in the last quarter. Sollinda Capital Management LLC bought a new position in ProShares UltraPro Short S&P 500 in the fourth quarter worth about $612,000. Finally, Two Sigma Securities LLC bought a new position in ProShares UltraPro Short S&P 500 in the fourth quarter worth about $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.