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

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped up before the market opened on Monday . The stock had previously closed at $26.00, but opened at $26.85. ProShares UltraPro Short S&P 500 shares last traded at $26.67, with a volume of 2,491,624 shares changing hands.

ProShares UltraPro Short S&P 500 Price Performance

The business’s fifty day moving average price is $22.65 and its 200-day moving average price is $22.77.

ProShares UltraPro Short S&P 500 Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a $0.2601 dividend. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth about $4,112,000. Sollinda Capital Management LLC bought a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $612,000. Ridgepath Capital Management LLC purchased a new position in ProShares UltraPro Short S&P 500 in the 4th quarter worth approximately $4,112,000. Edgestream Partners L.P. bought a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth $287,000. Finally, Headlands Technologies LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at $1,627,000.

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.