ProShares Ultra Health Care (NYSEARCA:RXL) Share Price Pass Below Fifty Day Moving Average – Here’s Why

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $52.57 and traded as low as $49.26. ProShares Ultra Health Care shares last traded at $49.79, with a volume of 7,090 shares.

ProShares Ultra Health Care Price Performance

The company has a fifty day moving average price of $52.57 and a 200 day moving average price of $48.78. The stock has a market cap of $84.64 million, a P/E ratio of 24.86 and a beta of 1.28.

Institutional Trading of ProShares Ultra Health Care

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its holdings in ProShares Ultra Health Care by 604.9% during the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after buying an additional 13,242 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of ProShares Ultra Health Care during the second quarter valued at about $468,000. Susquehanna International Group LLP acquired a new position in shares of ProShares Ultra Health Care during the third quarter valued at about $267,000. Csenge Advisory Group bought a new stake in shares of ProShares Ultra Health Care during the fourth quarter worth about $297,000. Finally, Toth Financial Advisory Corp increased its position in shares of ProShares Ultra Health Care by 4.7% during the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock worth $477,000 after acquiring an additional 412 shares in the last quarter.

ProShares Ultra Health Care Company Profile

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.