ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Cross Below 200 Day Moving Average – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.83 and traded as low as $47.40. ProShares UltraPro Short S&P 500 shares last traded at $47.93, with a volume of 4,919,874 shares changing hands.

ProShares UltraPro Short S&P 500 Stock Performance

The firm’s 50 day moving average is $50.50 and its two-hundred day moving average is $55.83.

Institutional Trading of ProShares UltraPro Short S&P 500

Several hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter worth $27,000. Parallel Advisors LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the second quarter valued at $46,000. Optiver Holding B.V. acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at $38,000. SBI Securities Co. Ltd. grew its position in shares of ProShares UltraPro Short S&P 500 by 620.0% during the third quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 4,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of ProShares UltraPro Short S&P 500 by 18.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock worth $104,000 after acquiring an additional 975 shares during the period.

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.