ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Hits New 1-Year Low – Here’s What Happened
by Mitch Edgeman · The Markets DailyProShares UltraPro Short S&P 500 (NYSEARCA:SPXU – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $48.26 and last traded at $48.2160, with a volume of 68480 shares. The stock had previously closed at $49.24.
ProShares UltraPro Short S&P 500 Stock Down 2.4%
The company has a 50 day moving average price of $51.92 and a 200-day moving average price of $58.73.
Institutional Investors Weigh In On ProShares UltraPro Short S&P 500
Large investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. acquired a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $27,000. Optiver Holding B.V. bought a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $38,000. Parallel Advisors LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter valued at $46,000. SBI Securities Co. Ltd. raised its position in shares of ProShares UltraPro Short S&P 500 by 620.0% during the third quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 4,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in ProShares UltraPro Short S&P 500 by 18.7% in the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after acquiring an additional 975 shares during the last quarter.
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.