ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – What’s Next?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.97, but opened at $25.01. ProShares UltraPro Short S&P 500 shares last traded at $25.27, with a volume of 3,043,393 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Up 2.5 %

The firm’s fifty day simple moving average is $21.64 and its two-hundred day simple moving average is $22.99.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Hedge funds have recently added to or reduced their stakes in the business. Cadent Capital Advisors LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 4th quarter valued at $11,379,000. GTS Securities LLC grew its position in ProShares UltraPro Short S&P 500 by 2,456.3% during the 4th quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock worth $4,362,000 after purchasing an additional 185,645 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $4,112,000. Ridgepath Capital Management LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $4,112,000. Finally, Headlands Technologies LLC purchased a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $1,627,000.

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.