ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Cross Below 200-Day Moving Average – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.27 and traded as low as $21.47. ProShares UltraPro Short S&P 500 shares last traded at $21.88, with a volume of 13,367,357 shares.

ProShares UltraPro Short S&P 500 Price Performance

The company has a 50 day moving average of $21.36 and a 200 day moving average of $23.27.

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

Several institutional investors have recently added to or reduced their stakes in SPXU. Cadent Capital Advisors LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth about $11,379,000. GTS Securities LLC increased its stake in ProShares UltraPro Short S&P 500 by 2,456.3% during the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock worth $4,362,000 after acquiring an additional 185,645 shares during the last quarter. Ridgepath Capital Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth about $4,112,000. Axxcess Wealth Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth about $4,112,000. Finally, IMC Chicago LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the third quarter worth about $2,392,000.

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.