ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Up 4.8% – Here’s Why

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) were up 4.8% on Friday . The stock traded as high as $37.92 and last traded at $38.0410. Approximately 4,281,622 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 8,520,017 shares. The stock had previously closed at $36.30.

ProShares UltraPro Short S&P 500 Price Performance

The firm’s fifty day moving average is $43.95 and its two-hundred day moving average is $48.14.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Axxcess Wealth Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the third quarter valued at about $7,814,000. Jump Financial LLC lifted its stake in ProShares UltraPro Short S&P 500 by 25.4% during the third quarter. Jump Financial LLC now owns 547,150 shares of the exchange traded fund’s stock valued at $7,392,000 after buying an additional 110,880 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in ProShares UltraPro Short S&P 500 by 16,249.3% during the third 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 in the last quarter. IMC Chicago LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the first quarter valued at about $17,942,000. Finally, Tower Research Capital LLC TRC lifted its stake in ProShares UltraPro Short S&P 500 by 208.9% during the third quarter. Tower Research Capital LLC TRC now owns 166,275 shares of the exchange traded fund’s stock valued at $2,246,000 after buying an additional 112,444 shares in the last quarter.

ProShares UltraPro Short S&P 500 Company Profile

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.