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

ProShares Ultra Health Care (NYSEARCA:RXL) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $52.21 and traded as high as $53.93. ProShares Ultra Health Care shares last traded at $53.36, with a volume of 9,536 shares changing hands.

ProShares Ultra Health Care Stock Performance

The stock has a market capitalization of $90.71 million, a P/E ratio of 24.86 and a beta of 1.28. The business has a 50-day moving average price of $52.21 and a 200 day moving average price of $45.85.

Hedge Funds Weigh In On ProShares Ultra Health Care

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new position in ProShares Ultra Health Care in the 2nd quarter worth about $468,000. Toth Financial Advisory Corp raised its holdings in ProShares Ultra Health Care by 4.7% in the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock worth $477,000 after buying an additional 412 shares during the last quarter. Susquehanna International Group LLP purchased a new position in ProShares Ultra Health Care in the third quarter worth about $267,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of ProShares Ultra Health Care by 50.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock worth $37,000 after buying an additional 300 shares in the last quarter.

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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.