ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Up 2.6%

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) traded up 2.6% during mid-day trading on Friday . The stock traded as high as $34.62 and last traded at $34.30. 4,743,429 shares were traded during trading, a decline of 13% from the average session volume of 5,444,092 shares. The stock had previously closed at $33.43.

ProShares UltraPro Short S&P 500 Stock Performance

The company’s fifty day moving average is $35.20 and its 200-day moving average is $45.20.

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

Several institutional investors have recently bought and sold shares of SPXU. Citigroup Inc. increased its holdings in ProShares UltraPro Short S&P 500 by 377.8% during the first quarter. Citigroup Inc. now owns 4,300 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 3,400 shares during the period. Credit Suisse AG purchased a new position in ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $94,000. Geneos Wealth Management Inc. purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $136,000. Arete Wealth Advisors LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter valued at approximately $137,000. Finally, LB Partners LLC purchased a new position in ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $172,000.

About ProShares UltraPro Short S&P 500

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.