ProShares Ultra Health Care (NYSEARCA:RXL) Stock Pass Below 50 Day Moving Average – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $48.82 and traded as low as $47.87. ProShares Ultra Health Care shares last traded at $49.41, with a volume of 12,435 shares.

ProShares Ultra Health Care Price Performance

The company has a market capitalization of $84.58 million, a P/E ratio of 29.46 and a beta of 1.41. The business has a 50-day moving average of $48.89 and a 200-day moving average of $50.82.

Institutional Investors Weigh In On ProShares Ultra Health Care

Several hedge funds and other institutional investors have recently modified their holdings of RXL. Jane Street Group LLC bought a new stake in shares of ProShares Ultra Health Care during the third quarter worth $364,000. Bartlett & CO. Wealth Management LLC lifted its holdings in ProShares Ultra Health Care by 100.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,824 shares of the company’s stock valued at $80,000 after buying an additional 912 shares in the last quarter. Toth Financial Advisory Corp boosted its position in ProShares Ultra Health Care by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 8,640 shares of the company’s stock valued at $380,000 after buying an additional 4,320 shares during the period. Capital Investment Advisory Services LLC grew its stake in ProShares Ultra Health Care by 101.0% in the 4th quarter. Capital Investment Advisory Services LLC now owns 2,251 shares of the company’s stock worth $99,000 after acquiring an additional 1,131 shares in the last quarter. Finally, IMC Chicago LLC increased its position in shares of ProShares Ultra Health Care by 13.2% during the fourth quarter. IMC Chicago LLC now owns 13,546 shares of the company’s stock worth $596,000 after acquiring an additional 1,581 shares during the period.

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.