ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Cross Below 50 Day Moving Average – Should You Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $57.61 and traded as low as $57.20. ProShares Ultra Health Care shares last traded at $57.32, with a volume of 12,276 shares traded.

ProShares Ultra Health Care Stock Performance

The business’s fifty day moving average price is $57.61 and its two-hundred day moving average price is $51.14. The firm has a market capitalization of $87.70 million, a P/E ratio of 24.86 and a beta of 1.12.

Hedge Funds Weigh In On ProShares Ultra Health Care

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in ProShares Ultra Health Care during the third quarter valued at approximately $267,000. Csenge Advisory Group purchased a new stake in shares of ProShares Ultra Health Care during the 4th quarter worth about $297,000. Citadel Advisors LLC grew its holdings in ProShares Ultra Health Care by 12.7% in the second quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock valued at $492,000 after purchasing an additional 1,042 shares during the period. Osaic Holdings Inc. grew its holdings in ProShares Ultra Health Care by 604.9% in the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock valued at $799,000 after purchasing an additional 13,242 shares during the period. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Health Care in the first quarter valued at approximately $3,103,000.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.