ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Here’s What Happened

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.96, but opened at $26.86. ProShares UltraPro Short S&P 500 shares last traded at $26.81, with a volume of 3,231,365 shares trading hands.

ProShares UltraPro Short S&P 500 Stock Performance

The firm has a fifty day moving average price of $24.64 and a two-hundred day moving average price of $23.11.

ProShares UltraPro Short S&P 500 Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a dividend of $0.2601 per share. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors and hedge funds have recently made changes to their positions in SPXU. Gainplan LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the first quarter worth about $1,915,000. Integrated Advisors Network LLC raised its stake in ProShares UltraPro Short S&P 500 by 121.7% during the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after acquiring an additional 12,900 shares during the period. GTS Securities LLC lifted its holdings in ProShares UltraPro Short S&P 500 by 2,456.3% during the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after purchasing an additional 185,645 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter worth approximately $721,000. Finally, Headlands Technologies LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the fourth quarter worth $1,627,000.

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.