ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Reaches New 52-Week Low – Here’s What Happened

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) hit a new 52-week low on Thursday . The stock traded as low as $42.44 and last traded at $42.2250, with a volume of 6114012 shares traded. The stock had previously closed at $43.37.

ProShares UltraPro Short S&P 500 Trading Down 2.9%

The firm has a 50-day moving average of $50.83 and a two-hundred day moving average of $50.59.

Institutional Trading of ProShares UltraPro Short S&P 500

Several institutional investors and hedge funds have recently modified their holdings of SPXU. IMC Chicago LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 3rd quarter worth $11,702,000. Sollinda Capital Management LLC acquired a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter worth about $9,177,000. Axxcess Wealth Management LLC acquired a new position in ProShares UltraPro Short S&P 500 in the 3rd quarter worth about $7,814,000. JPMorgan Chase & Co. increased its holdings in ProShares UltraPro Short S&P 500 by 16,249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock worth $4,354,000 after purchasing an additional 320,273 shares in the last quarter. Finally, Clough Capital Partners L P acquired a new position in ProShares UltraPro Short S&P 500 in the 2nd quarter worth about $2,011,000.

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.