ProShares Ultra Health Care (NYSEARCA:RXL) Share Price Cross 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 $48.06 and traded as low as $42.79. ProShares Ultra Health Care shares last traded at $43.65, with a volume of 4,807 shares traded.

ProShares Ultra Health Care Price Performance

The company has a 50 day moving average price of $47.78 and a 200 day moving average price of $49.16. The firm has a market cap of $71.84 million, a PE ratio of 26.27 and a beta of 1.43.

ProShares Ultra Health Care Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a $0.1344 dividend. The ex-dividend date was Wednesday, March 26th.

Institutional Trading of ProShares Ultra Health Care

Institutional investors and hedge funds have recently modified their holdings of the business. First Manhattan CO. LLC. raised its stake in ProShares Ultra Health Care by 100.0% during the fourth quarter. First Manhattan CO. LLC. now owns 10,644 shares of the company’s stock worth $468,000 after purchasing an additional 5,322 shares during the period. Toth Financial Advisory Corp boosted its position in shares of ProShares Ultra Health Care by 100.0% in the fourth quarter. Toth Financial Advisory Corp now owns 8,640 shares of the company’s stock worth $380,000 after buying an additional 4,320 shares during the period. Jane Street Group LLC acquired a new stake in ProShares Ultra Health Care in the third quarter valued at approximately $364,000. Bank of America Corp DE increased its stake in ProShares Ultra Health Care by 100.0% during the 4th quarter. Bank of America Corp DE now owns 3,508 shares of the company’s stock worth $154,000 after buying an additional 1,754 shares during the period. Finally, IMC Chicago LLC lifted its holdings in ProShares Ultra Health Care by 13.2% in the 4th quarter. IMC Chicago LLC now owns 13,546 shares of the company’s stock worth $596,000 after buying an additional 1,581 shares in the last quarter.

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.