ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Hits New 52-Week Low – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) hit a new 52-week low during trading on Tuesday . The company traded as low as $36.91 and last traded at $36.91, with a volume of 1929167 shares trading hands. The stock had previously closed at $37.88.

ProShares UltraPro Short S&P 500 Price Performance

The business has a 50 day moving average of $46.60 and a 200 day moving average of $48.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. acquired a new position in ProShares UltraPro Short S&P 500 during the third quarter worth $27,000. Optiver Holding B.V. acquired a new position in ProShares UltraPro Short S&P 500 during the third quarter worth $38,000. SBI Securities Co. Ltd. raised its stake in 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in ProShares UltraPro Short S&P 500 by 18.7% during the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock worth $104,000 after acquiring an additional 975 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in ProShares UltraPro Short S&P 500 during the first quarter worth $155,000.

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.