ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Trading Down 3.7%

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) dropped 3.7% during trading on Monday . The stock traded as low as $36.80 and last traded at $36.93. Approximately 5,205,422 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 5,891,801 shares. The stock had previously closed at $38.33.

ProShares UltraPro Short S&P 500 Price Performance

The company’s fifty day moving average price is $35.09 and its 200 day moving average price is $44.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPXU. LB Partners LLC bought a new stake in ProShares UltraPro Short S&P 500 in the 4th quarter valued at about $172,000. XR Securities LLC bought a new stake in ProShares UltraPro Short S&P 500 in the 4th quarter valued at about $193,000. Essex LLC lifted its position in ProShares UltraPro Short S&P 500 by 28.0% in the 4th quarter. Essex LLC now owns 22,863 shares of the exchange traded fund’s stock valued at $197,000 after purchasing an additional 5,000 shares during the last quarter. Avior Wealth Management LLC lifted its position in ProShares UltraPro Short S&P 500 by 82.6% in the 3rd quarter. Avior Wealth Management LLC now owns 19,900 shares of the exchange traded fund’s stock valued at $238,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter worth about $249,000.

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.