ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Hits New 1-Year Low – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) reached a new 52-week low on Friday . The stock traded as low as $42.89 and last traded at $42.9440, with a volume of 4901753 shares. The stock had previously closed at $43.90.

ProShares UltraPro Short S&P 500 Stock Down 1.9%

The stock has a fifty day simple moving average of $51.37 and a 200-day simple moving average of $50.91.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Several hedge funds have recently modified their holdings of SPXU. Integrated Advisors Network LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the third quarter worth $338,000. Fortitude Advisory Group L.L.C. bought a new position in ProShares UltraPro Short S&P 500 during the third quarter worth $157,000. Sollinda Capital Management LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at $9,177,000. Corient IA LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at $216,000. Finally, JPMorgan Chase & Co. boosted 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 valued at $4,354,000 after purchasing an additional 320,273 shares during the period.

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.