ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 4.3% – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) were down 4.3% during mid-day trading on Tuesday . The stock traded as low as $59.19 and last traded at $59.37. Approximately 2,022,728 shares changed hands during trading, a decline of 73% from the average daily volume of 7,529,100 shares. The stock had previously closed at $62.06.

ProShares UltraPro Short S&P 500 Price Performance

The stock has a fifty day moving average price of $51.31 and a 200-day moving average price of $51.62.

ProShares UltraPro Short S&P 500 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were given a dividend of $0.4452 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $1.78 dividend on an annualized basis and a yield of 3.2%.

Institutional Trading of ProShares UltraPro Short S&P 500

A number of institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter worth $27,000. Optiver Holding B.V. purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter worth about $38,000. SBI Securities Co. Ltd. increased its holdings in shares of ProShares UltraPro Short S&P 500 by 620.0% during the third quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock valued at $65,000 after acquiring an additional 4,129 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of ProShares UltraPro Short S&P 500 by 18.7% during the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after acquiring an additional 975 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at approximately $157,000.

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.