ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Reaches New 52-Week Low – Should You Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) hit a new 52-week low during trading on Friday . The company traded as low as $13.26 and last traded at $13.34, with a volume of 21173628 shares. The stock had previously closed at $13.37.

ProShares UltraPro Short S&P 500 Stock Performance

The stock’s 50-day moving average is $14.81 and its 200-day moving average is $19.08.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the second quarter worth about $46,000. EverSource Wealth Advisors LLC boosted its holdings in ProShares UltraPro Short S&P 500 by 18.7% in the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after purchasing an additional 975 shares during the last quarter. Larson Financial Group LLC boosted its holdings in ProShares UltraPro Short S&P 500 by 146.0% in the first quarter. Larson Financial Group LLC now owns 10,968 shares of the exchange traded fund’s stock valued at $280,000 after purchasing an additional 6,510 shares during the last quarter. Beacon Financial Group acquired a new stake in ProShares UltraPro Short S&P 500 during the 2nd quarter valued at approximately $371,000. Finally, Tidal Investments LLC purchased a new stake in ProShares UltraPro Short S&P 500 during the 2nd quarter worth approximately $752,000.

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.