ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Reaches New 12-Month Low – Time to Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) hit a new 52-week low on Tuesday . The stock traded as low as $38.52 and last traded at $38.76, with a volume of 8895995 shares changing hands. The stock had previously closed at $39.02.

ProShares UltraPro Short S&P 500 Trading Down 1.6%

The firm has a 50-day moving average of $49.35 and a two-hundred day moving average of $49.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPXU. IMC Chicago LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $11,702,000. Sollinda Capital Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $9,177,000. Axxcess Wealth Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $7,814,000. JPMorgan Chase & Co. grew its holdings in ProShares UltraPro Short S&P 500 by 16,249.3% in the third quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock valued at $4,354,000 after purchasing an additional 320,273 shares during the period. Finally, Clough Capital Partners L P acquired a new stake in ProShares UltraPro Short S&P 500 in the second quarter valued at approximately $2,011,000.

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.