ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Sets New 1-Year Low – Time to Sell?

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) reached a new 52-week low on Wednesday . The company traded as low as $41.06 and last traded at $41.29, with a volume of 9362463 shares changing hands. The stock had previously closed at $42.27.

ProShares UltraPro Short S&P 500 Price Performance

The business’s fifty day moving average price is $50.15 and its 200-day moving average price is $50.16.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPXU. IMC Chicago LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the third quarter worth $11,702,000. Sollinda Capital Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $9,177,000. Axxcess Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $7,814,000. JPMorgan Chase & Co. boosted its position in shares of ProShares UltraPro Short S&P 500 by 16,249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock valued at $4,354,000 after acquiring an additional 320,273 shares during the last quarter. Finally, Clough Capital Partners L P purchased a new position in shares of ProShares UltraPro Short S&P 500 during the second quarter worth about $2,011,000.

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.