ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 3.3% – Should You Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) fell 3.3% during mid-day trading on Monday . The stock traded as low as $18.46 and last traded at $18.30. 1,700,767 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,755,734 shares. The stock had previously closed at $18.92.

ProShares UltraPro Short S&P 500 Price Performance

The firm has a 50 day moving average of $22.39 and a 200-day moving average of $22.60.

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

Several hedge funds have recently bought and sold shares of SPXU. Larson Financial Group LLC lifted its stake in ProShares UltraPro Short S&P 500 by 146.0% during the first quarter. Larson Financial Group LLC now owns 10,968 shares of the exchange traded fund’s stock worth $280,000 after purchasing an additional 6,510 shares during the last quarter. Integrated Advisors Network LLC raised its position 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 purchasing an additional 12,900 shares during the last quarter. Sollinda Capital Management LLC bought a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $612,000. Two Sigma Securities LLC bought a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth $721,000. Finally, Flow Traders U.S. LLC bought a new position in ProShares UltraPro Short S&P 500 during the 1st quarter worth $840,000.

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.