ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Up 5% – Here’s What Happened

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares rose 5% on Thursday . The stock traded as high as $13.25 and last traded at $13.2160. Approximately 19,324,847 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 20,990,182 shares. The stock had previously closed at $12.59.

ProShares UltraPro Short S&P 500 Stock Performance

The firm’s fifty day moving average is $13.53 and its 200 day moving average is $16.28.

ProShares UltraPro Short S&P 500’s stock is going to reverse split before the market opens on Thursday, November 20th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient IA LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the third quarter valued at about $216,000. Integrated Advisors Network LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at $338,000. Optiver Holding B.V. acquired a new position in ProShares UltraPro Short S&P 500 in the third quarter valued at about $38,000. Axxcess Wealth Management LLC bought a new stake in ProShares UltraPro Short S&P 500 during the third quarter worth about $7,814,000. Finally, JPMorgan Chase & Co. increased its holdings in ProShares UltraPro Short S&P 500 by 16,249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock valued at $4,354,000 after buying an additional 320,273 shares during the period.

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.