ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) Shares Down 8.7% – Here’s Why

ProShares Ultra SpaceX ETF (NYSEARCA:SPCFGet Free Report)’s share price fell 8.7% during mid-day trading on Monday . The stock traded as low as $16.00 and last traded at $16.59. 1,177,717 shares were traded during trading, a decline of 63% from the average session volume of 3,189,042 shares. The stock had previously closed at $18.17.

ProShares Ultra SpaceX ETF Price Performance

About ProShares Ultra SpaceX ETF

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SPCF, the ProShares Ultra SpaceX ETF, is a leveraged single-stock fund that seeks daily investment results, before fees and expenses, equal to 2x (200%) the daily performance of the common stock of SpaceX (SPCX). Because the fund pursues a daily objective and resets its exposure each day, it is designed as a short-term, tactical tool rather than a buy-and-hold investment: over any holding period longer than a single day, returns can differ significantly from 2x the underlying stock’s performance, and that gap tends to widen in more volatile markets.

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