ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Hits New 1-Year Low – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $48.26 and last traded at $48.2160, with a volume of 68480 shares trading hands. The stock had previously closed at $49.24.

ProShares UltraPro Short S&P 500 Trading Down 2.4%

The stock’s 50-day moving average is $51.92 and its 200-day moving average is $58.73.

Institutional Trading of ProShares UltraPro Short S&P 500

A number of hedge funds have recently made changes to their positions in SPXU. TD Waterhouse Canada Inc. acquired a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at $27,000. Optiver Holding B.V. bought a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth $38,000. Parallel Advisors LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 2nd quarter valued at about $46,000. SBI Securities Co. Ltd. grew its stake in shares of ProShares UltraPro Short S&P 500 by 620.0% in the 3rd 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 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 in the last quarter.

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.