ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Cross Below 200-Day Moving Average – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $41.43 and traded as low as $35.21. ProShares UltraPro Short S&P 500 shares last traded at $35.58, with a volume of 7,287,524 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The firm’s fifty day moving average price is $35.57 and its two-hundred day moving average price is $41.35.

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

A number of large investors have recently added to or reduced their stakes in SPXU. IMC Chicago LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter valued at $17,942,000. Capstone Capital Management Ltd purchased a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at about $497,000. Richards Merrill & Peterson Inc. bought a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at about $511,000. Ramsey Quantitative Systems bought a new position in shares of ProShares UltraPro Short S&P 500 during the second quarter valued at about $271,000. Finally, Group One Trading LLC bought a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at about $364,000.

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.