ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Should You Buy?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped up prior to trading on Friday . The stock had previously closed at $25.16, but opened at $25.84. ProShares UltraPro Short S&P 500 shares last traded at $25.81, with a volume of 2,484,718 shares.

ProShares UltraPro Short S&P 500 Stock Up 2.0 %

The stock has a fifty day moving average price of $22.21 and a 200 day moving average price of $23.00.

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

A number of institutional investors and hedge funds have recently modified their holdings of SPXU. Edgestream Partners L.P. bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter worth approximately $287,000. Larson Financial Group LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter worth approximately $301,000. Integrated Advisors Network LLC lifted its stake in shares of ProShares UltraPro Short S&P 500 by 121.7% during the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after acquiring an additional 12,900 shares during the last quarter. Sollinda Capital Management LLC bought a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter valued at $612,000. Finally, Two Sigma Securities LLC bought a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter valued at $721,000.

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.