ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Pass Below 200 Day Moving Average – Should You Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.22 and traded as low as $20.33. ProShares UltraPro Short S&P 500 shares last traded at $21.07, with a volume of 12,478,200 shares trading hands.

ProShares UltraPro Short S&P 500 Trading Up 2.9 %

The firm has a 50-day moving average of $21.47 and a two-hundred day moving average of $24.22.

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

Several institutional investors and hedge funds have recently bought and sold shares of SPXU. GW Henssler & Associates Ltd. increased its stake in shares of ProShares UltraPro Short S&P 500 by 11.3% in the third quarter. GW Henssler & Associates Ltd. now owns 36,632 shares of the exchange traded fund’s stock worth $888,000 after acquiring an additional 3,730 shares during the last quarter. IMC Chicago LLC purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at about $2,392,000. Larson Financial Group LLC acquired a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter worth about $301,000. DRW Securities LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter worth about $1,090,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at about $287,000.

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.