ProShares UltraShort FTSE China 50 (NYSEARCA:FXP) traded up 6.1% on Wednesday . The company traded as high as $76.83 and last traded at $76.77, 216,525 shares were traded during trading. An increase of 133% from the average session volume of 92,807 shares. The stock had previously closed at $72.36.
The company has a 50 day simple moving average of $64.27.
An institutional investor recently raised its position in ProShares UltraShort FTSE China 50 stock. Morgan Stanley raised its holdings in ProShares UltraShort FTSE China 50 (NYSEARCA:FXP) by 360.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 520 shares of the company’s stock after buying an additional 407 shares during the quarter. Morgan Stanley owned about 0.09% of ProShares UltraShort FTSE China 50 worth $31,000 at the end of the most recent reporting period.
ProShares UltraShort FTSE China 50 (the Fund) seeks daily investment results that correspond to two times the inverse (-2x) of the daily performance of the FTSE China 50 Index (the Index). The Index is comprised of 50 of the largest and most liquid Chinese stocks listed on the Hong Kong Stock Exchange (HKEX).
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