ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped down prior to trading on Monday . The stock had previously closed at $26.52, but opened at $25.02. ProShares UltraPro Short S&P 500 shares last traded at $25.63, with a volume of 4,639,991 shares.

ProShares UltraPro Short S&P 500 Stock Up 0.7 %

The company’s fifty day moving average price is $24.64 and its 200-day moving average price is $23.11.

ProShares UltraPro Short S&P 500 Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a dividend of $0.2601 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Gainplan LLC bought a new position in ProShares UltraPro Short S&P 500 in the 1st quarter valued at $1,915,000. Integrated Advisors Network LLC boosted its stake in shares of ProShares UltraPro Short S&P 500 by 121.7% during the fourth quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock valued at $529,000 after purchasing an additional 12,900 shares during the period. GTS Securities LLC grew its holdings in shares of ProShares UltraPro Short S&P 500 by 2,456.3% in the fourth 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. Two Sigma Securities LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 4th quarter worth about $721,000. Finally, Headlands Technologies LLC bought a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $1,627,000.

ProShares UltraPro Short S&P 500 Company Profile

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.