ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 19.3% – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price fell 19.3% during mid-day trading on Wednesday . The company traded as low as $29.51 and last traded at $28.48. 19,268,655 shares changed hands during trading, an increase of 90% from the average session volume of 10,146,134 shares. The stock had previously closed at $35.27.

ProShares UltraPro Short S&P 500 Trading Down 28.0 %

The company’s 50 day moving average price is $24.00 and its 200 day moving average price is $23.04.

ProShares UltraPro Short S&P 500 Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a dividend of $0.2601 per share. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPXU. Integrated Advisors Network LLC lifted its stake in shares of ProShares UltraPro Short S&P 500 by 121.7% in the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock valued at $529,000 after purchasing an additional 12,900 shares during the period. GTS Securities LLC raised its position in shares of ProShares UltraPro Short S&P 500 by 2,456.3% in the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock worth $4,362,000 after acquiring an additional 185,645 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter worth about $721,000. Headlands Technologies LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $1,627,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $4,112,000.

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.