ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Should You Buy?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped up prior to trading on Friday . The stock had previously closed at $25.16, but opened at $25.84. ProShares UltraPro Short S&P 500 shares last traded at $25.81, with a volume of 2,484,718 shares.

ProShares UltraPro Short S&P 500 Stock Up 2.0 %

The business has a fifty day moving average of $22.21 and a two-hundred day moving average of $23.00.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of large investors have recently bought and sold shares of the business. Axxcess Wealth Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $4,112,000. Sollinda Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $612,000. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $301,000. Ridgepath Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the fourth quarter valued at approximately $4,112,000. Finally, Edgestream Partners L.P. acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter valued at approximately $287,000.

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.