ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up to $36.04

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped up before the market opened on Thursday . The stock had previously closed at $36.04, but opened at $37.46. ProShares UltraPro Short S&P 500 shares last traded at $37.35, with a volume of 3,199,529 shares changing hands.

ProShares UltraPro Short S&P 500 Trading Down 2.8 %

The business’s fifty day simple moving average is $34.99 and its 200-day simple moving average is $43.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Integrated Advisors Network LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 in the fourth quarter valued at $298,000. Tower Research Capital LLC TRC lifted its position in shares of ProShares UltraPro Short S&P 500 by 2,805.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 465,023 shares of the exchange traded fund’s stock worth $3,999,000 after purchasing an additional 449,017 shares during the last quarter. IMC Chicago LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $3,875,000. Jump Financial LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $2,536,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $4,286,000.

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.