Ridgepath Capital Management LLC Takes Position in ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

Ridgepath Capital Management LLC bought a new position in shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 182,507 shares of the exchange traded fund’s stock, valued at approximately $4,112,000. ProShares UltraPro Short S&P 500 accounts for about 1.9% of Ridgepath Capital Management LLC’s portfolio, making the stock its 12th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Cadent Capital Advisors LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the fourth quarter worth $11,379,000. IMC Chicago LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter worth about $2,392,000. DRW Securities LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter worth about $1,090,000. Larson Financial Group LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter valued at about $301,000. Finally, Edgestream Partners L.P. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $287,000.

ProShares UltraPro Short S&P 500 Trading Down 1.5 %

Shares of SPXU stock opened at $20.58 on Friday. ProShares UltraPro Short S&P 500 has a 12-month low of $20.00 and a 12-month high of $41.45. The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $24.43.

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.