ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Up 3.9% – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) rose 3.9% during mid-day trading on Friday . The company traded as high as $25.21 and last traded at $25.46. Approximately 3,141,855 shares were traded during trading, a decline of 67% from the average daily volume of 9,564,202 shares. The stock had previously closed at $24.51.

ProShares UltraPro Short S&P 500 Stock Up 6.1 %

The business’s 50 day moving average price is $22.47 and its 200 day moving average price is $22.82.

ProShares UltraPro Short S&P 500 Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th will be paid a dividend of $0.2601 per share. The ex-dividend date of this dividend is Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors and hedge funds have recently modified their holdings of SPXU. Integrated Advisors Network LLC lifted its stake in shares of ProShares UltraPro Short S&P 500 by 121.7% in the 4th quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after purchasing an additional 12,900 shares during the period. GTS Securities LLC raised its position in ProShares UltraPro Short S&P 500 by 2,456.3% in the fourth quarter. GTS Securities LLC now owns 193,203 shares of the exchange traded fund’s stock worth $4,362,000 after acquiring an additional 185,645 shares during the period. Two Sigma Securities LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 4th quarter worth $721,000. Headlands Technologies LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at $1,627,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at $4,112,000.

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.