ProShares UltraPro Short S&P 500 (SPXU) Shares Gap Down to $31.21

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped down before the market opened on Tuesday . The stock had previously closed at $31.84, but opened at $31.21. ProShares UltraPro Short S&P 500 shares last traded at $30.37, with a volume of 4114138 shares traded.

Several institutional investors and hedge funds have recently made changes to their positions in SPXU. Virtu Financial LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at about $390,000. PICTET BANK & TRUST Ltd raised its position in shares of ProShares UltraPro Short S&P 500 by 31.2% during the fourth quarter. PICTET BANK & TRUST Ltd now owns 10,060 shares of the exchange traded fund’s stock valued at $468,000 after buying an additional 2,392 shares during the last quarter. WESPAC Advisors SoCal LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at about $279,000. Meditor Group Ltd acquired a new position in shares of ProShares UltraPro Short S&P 500 during the first quarter valued at about $3,312,000. Finally, David R. Rahn & Associates Inc. raised its position in shares of ProShares UltraPro Short S&P 500 by 236.8% during the first quarter. David R. Rahn & Associates Inc. now owns 165,058 shares of the exchange traded fund’s stock valued at $5,206,000 after buying an additional 116,052 shares during the last quarter.

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About ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

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.

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