ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up to $30.87

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped up before the market opened on Monday . The stock had previously closed at $30.87, but opened at $34.62. ProShares UltraPro Short S&P 500 shares last traded at $33.57, with a volume of 6,441,545 shares.

ProShares UltraPro Short S&P 500 Stock Up 7.3 %

The business’s 50 day moving average is $29.16 and its 200 day moving average is $33.37.

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. Sowell Financial Services LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $249,000. LB Partners LLC acquired a new position in ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $172,000. Essex LLC boosted its position in ProShares UltraPro Short S&P 500 by 28.0% in the 4th quarter. Essex LLC now owns 22,863 shares of the exchange traded fund’s stock worth $197,000 after purchasing an additional 5,000 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of ProShares UltraPro Short S&P 500 by 81.1% during the 4th quarter. Vontobel Holding Ltd. now owns 40,742 shares of the exchange traded fund’s stock valued at $350,000 after purchasing an additional 18,242 shares in the last quarter. Finally, XR Securities LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the 4th quarter valued at $193,000.

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.