ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Here’s What Happened

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $37.77, but opened at $39.40. ProShares UltraPro Short S&P 500 shares last traded at $38.7470, with a volume of 2,496,539 shares.

ProShares UltraPro Short S&P 500 Trading Up 3.1%

The business’s 50-day moving average is $40.10 and its 200-day moving average is $46.94.

Institutional Trading of ProShares UltraPro Short S&P 500

A number of hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. acquired a new stake in ProShares UltraPro Short S&P 500 during the third quarter worth about $38,000. EverSource Wealth Advisors LLC boosted its position in ProShares UltraPro Short S&P 500 by 18.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock worth $104,000 after purchasing an additional 975 shares in the last quarter. SG Americas Securities LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 1st quarter worth approximately $155,000. Bank of America Corp DE purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at approximately $177,000. Finally, Corient IA LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at approximately $216,000.

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.