ProShares Ultra Health Care (NYSEARCA:RXL) Share Price Pass Below 50-Day Moving Average – Time to Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $57.61 and traded as low as $57.20. ProShares Ultra Health Care shares last traded at $57.32, with a volume of 12,276 shares trading hands.

ProShares Ultra Health Care Trading Down 0.4%

The company has a market cap of $87.70 million, a PE ratio of 24.86 and a beta of 1.12. The business has a fifty day simple moving average of $57.61 and a two-hundred day simple moving average of $51.14.

Hedge Funds Weigh In On ProShares Ultra Health Care

A number of hedge funds have recently modified their holdings of RXL. Susquehanna International Group LLP purchased a new position in shares of ProShares Ultra Health Care during the third quarter worth $267,000. Csenge Advisory Group purchased a new position in ProShares Ultra Health Care in the fourth quarter valued at $297,000. Citadel Advisors LLC grew its stake in ProShares Ultra Health Care by 12.7% during the 2nd quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock worth $492,000 after purchasing an additional 1,042 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of ProShares Ultra Health Care by 604.9% during the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after buying an additional 13,242 shares in the last quarter. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Health Care in the 1st quarter valued at approximately $3,103,000.

ProShares Ultra Health Care Company Profile

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.