ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Stock Price Pass Below 200 Day Moving Average – Time to Sell?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.50 and traded as low as $49.16. ProShares UltraPro Short S&P 500 shares last traded at $49.73, with a volume of 5,953,016 shares traded.

ProShares UltraPro Short S&P 500 Stock Performance

The firm has a 50 day simple moving average of $52.02 and a two-hundred day simple moving average of $51.50.

ProShares UltraPro Short S&P 500 Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were issued a $0.4452 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $1.78 annualized dividend and a yield of 3.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in ProShares UltraPro Short S&P 500 during the 4th quarter valued at about $5,747,000. Squarepoint Ops LLC lifted its position in ProShares UltraPro Short S&P 500 by 123.3% in the 4th quarter. Squarepoint Ops LLC now owns 7,885 shares of the exchange traded fund’s stock worth $392,000 after buying an additional 41,685 shares during the last quarter. Capstone Capital Management Ltd bought a new stake in ProShares UltraPro Short S&P 500 in the fourth quarter valued at approximately $497,000. JPMorgan Chase & Co. lifted its position in ProShares UltraPro Short S&P 500 by 16,249.3% in the third 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 last quarter. Finally, XTX Topco Ltd bought a new stake in ProShares UltraPro Short S&P 500 in the third quarter valued at approximately $1,180,000.

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.