ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up – Still a Buy?

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped up before the market opened on Friday . The stock had previously closed at $25.16, but opened at $25.84. ProShares UltraPro Short S&P 500 shares last traded at $25.81, with a volume of 2,484,718 shares.

ProShares UltraPro Short S&P 500 Trading Up 0.0 %

The company has a 50-day moving average price of $22.25 and a 200-day moving average price of $22.96.

Institutional Trading of ProShares UltraPro Short S&P 500

Several institutional investors have recently modified their holdings of SPXU. Edgestream Partners L.P. purchased a new position in ProShares UltraPro Short S&P 500 during the 3rd quarter worth approximately $287,000. Larson Financial Group LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth approximately $301,000. Integrated Advisors Network LLC grew its position in shares of ProShares UltraPro Short S&P 500 by 121.7% during the fourth quarter. Integrated Advisors Network LLC now owns 23,500 shares of the exchange traded fund’s stock worth $529,000 after acquiring an additional 12,900 shares during the last quarter. Sollinda Capital Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 4th quarter valued at $612,000. Finally, Two Sigma Securities LLC acquired a new stake in ProShares UltraPro Short S&P 500 during the 4th quarter worth $721,000.

About ProShares UltraPro Short S&P 500

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.