ProShares Ultra Health Care (NYSEARCA:RXL) Stock Price Pass Above 50-Day Moving Average – What’s Next?

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $48.97 and traded as high as $52.22. ProShares Ultra Health Care shares last traded at $51.75, with a volume of 3,556 shares.

ProShares Ultra Health Care Trading Up 1.3%

The company has a market cap of $82.80 million, a P/E ratio of 24.86 and a beta of 1.28. The business has a 50 day moving average price of $48.97 and a 200-day moving average price of $43.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of ProShares Ultra Health Care by 50.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Susquehanna International Group LLP acquired a new position in ProShares Ultra Health Care during the third quarter worth approximately $267,000. Finally, Envestnet Asset Management Inc. bought a new stake in ProShares Ultra Health Care in the second quarter valued at approximately $468,000.

About ProShares Ultra Health Care

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.