ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Down 4% – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price dropped 4% during trading on Wednesday . The stock traded as low as $22.94 and last traded at $22.90. Approximately 15,337,377 shares were traded during trading, an increase of 24% from the average daily volume of 12,368,769 shares. The stock had previously closed at $23.86.

ProShares UltraPro Short S&P 500 Trading Down 3.1 %

The business’s fifty day moving average price is $21.41 and its two-hundred day moving average price is $23.06.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Cadent Capital Advisors LLC acquired a new position in ProShares UltraPro Short S&P 500 during the fourth quarter valued at $11,379,000. GTS Securities LLC lifted its holdings in shares of ProShares UltraPro Short S&P 500 by 2,456.3% in the 4th quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock valued at $4,362,000 after buying an additional 185,645 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the fourth quarter worth about $4,112,000. Ridgepath Capital Management LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth about $4,112,000. Finally, Headlands Technologies LLC purchased a new position in ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $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.