ProShares Ultra Health Care (NYSEARCA:RXL) Stock Cross Above 50 Day Moving Average – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $44.86 and traded as high as $50.86. ProShares Ultra Health Care shares last traded at $50.54, with a volume of 19,461 shares.

ProShares Ultra Health Care Price Performance

The firm has a market cap of $80.86 million, a price-to-earnings ratio of 24.86 and a beta of 1.28. The firm’s fifty day moving average is $44.86 and its 200-day moving average is $41.80.

Institutional Investors Weigh In On ProShares Ultra Health Care

Large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC grew its holdings in ProShares Ultra Health Care by 50.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the period. Susquehanna International Group LLP bought a new position in shares of ProShares Ultra Health Care during the 3rd quarter worth about $267,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of ProShares Ultra Health Care in the 2nd quarter valued at about $468,000.

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.