ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down to $36.26

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $36.26, but opened at $34.93. ProShares UltraPro Short S&P 500 shares last traded at $35.28, with a volume of 3,543,817 shares changing hands.

ProShares UltraPro Short S&P 500 Trading Down 3.8 %

The stock has a 50-day moving average of $34.83 and a 200 day moving average of $42.87.

Institutional Trading of ProShares UltraPro Short S&P 500

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC bought a new position in ProShares UltraPro Short S&P 500 during the fourth quarter worth about $4,286,000. Tower Research Capital LLC TRC grew its holdings in ProShares UltraPro Short S&P 500 by 2,805.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 465,023 shares of the exchange traded fund’s stock valued at $3,999,000 after purchasing an additional 449,017 shares during the period. IMC Chicago LLC bought a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $3,875,000. Jump Financial LLC acquired a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter worth $2,536,000. Finally, Simplex Trading LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter valued at $2,245,000.

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.