ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Here’s Why

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $53.41, but opened at $51.94. ProShares UltraPro Short S&P 500 shares last traded at $51.9080, with a volume of 1,204,529 shares.

ProShares UltraPro Short S&P 500 Price Performance

The stock’s 50-day moving average is $52.14 and its 200 day moving average is $59.33.

Institutional Trading of ProShares UltraPro Short S&P 500

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the second quarter valued at approximately $46,000. GW Henssler & Associates Ltd. increased its holdings in shares of ProShares UltraPro Short S&P 500 by 31.5% in the 1st quarter. GW Henssler & Associates Ltd. now owns 48,185 shares of the exchange traded fund’s stock valued at $1,230,000 after acquiring an additional 11,553 shares during the period. Beacon Financial Group purchased a new stake in ProShares UltraPro Short S&P 500 in the 2nd quarter valued at $371,000. DRW Securities LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter worth $929,000. Finally, Flow Traders U.S. LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 1st quarter worth $840,000.

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.