ProShares Ultra Health Care (NYSEARCA:RXL) Stock Pass Below Fifty Day Moving Average – Here’s What Happened

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $49.61 and traded as low as $46.08. ProShares Ultra Health Care shares last traded at $46.16, with a volume of 7,180 shares.

ProShares Ultra Health Care Stock Performance

The company has a 50-day moving average price of $49.61 and a 200-day moving average price of $49.44. The firm has a market capitalization of $76.16 million, a price-to-earnings ratio of 24.86 and a beta of 1.27.

ProShares Ultra Health Care Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a dividend of $0.1444 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, March 25th.

Institutional Trading of ProShares Ultra Health Care

Institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in shares of ProShares Ultra Health Care by 604.9% in the 4th quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock valued at $799,000 after purchasing an additional 13,242 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of ProShares Ultra Health Care in the 3rd quarter valued at about $267,000. Csenge Advisory Group purchased a new stake in shares of ProShares Ultra Health Care in the 4th quarter valued at about $297,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of ProShares Ultra Health Care by 4.7% in the 4th quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock valued at $477,000 after purchasing an additional 412 shares during 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.