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

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $47.28 and traded as high as $52.45. ProShares Ultra Health Care shares last traded at $52.02, with a volume of 15,517 shares changing hands.

ProShares Ultra Health Care Trading Up 0.9%

The firm has a market cap of $83.23 million, a P/E ratio of 24.86 and a beta of 1.28. The business’s 50-day moving average is $47.28 and its two-hundred day moving average is $42.73.

Institutional Trading of ProShares Ultra Health Care

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its position in ProShares Ultra Health Care by 50.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Susquehanna International Group LLP bought a new stake in ProShares Ultra Health Care in the third quarter valued at $267,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of ProShares Ultra Health Care during the second quarter valued at $468,000.

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.