ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Up 4.8% – Should You Buy?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shot up 4.8% on Friday . The company traded as high as $37.92 and last traded at $38.0410. 4,281,622 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 8,520,017 shares. The stock had previously closed at $36.30.

ProShares UltraPro Short S&P 500 Price Performance

The stock has a 50-day moving average price of $44.28 and a two-hundred day moving average price of $48.20.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth approximately $27,000. Optiver Holding B.V. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at approximately $38,000. SBI Securities Co. Ltd. lifted its stake in shares of ProShares UltraPro Short S&P 500 by 620.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock valued at $65,000 after purchasing an additional 4,129 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of ProShares UltraPro Short S&P 500 by 18.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 975 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 1st quarter valued at approximately $155,000.

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.