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

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped up prior to trading on Monday . The stock had previously closed at $23.97, but opened at $25.01. ProShares UltraPro Short S&P 500 shares last traded at $25.27, with a volume of 3,043,393 shares changing hands.

ProShares UltraPro Short S&P 500 Stock Up 2.5 %

The firm has a fifty day moving average price of $21.64 and a 200-day moving average price of $22.99.

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

Several institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter worth about $301,000. DRW Securities LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth approximately $1,090,000. Edgestream Partners L.P. bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth approximately $287,000. Cadent Capital Advisors LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 in the 4th quarter worth approximately $11,379,000. Finally, Ridgepath Capital Management LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter worth $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.