ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Sees Strong Trading Volume

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) saw unusually-high trading volume on Tuesday . Approximately 8,484,449 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 7,064,886 shares.The stock last traded at $32.11 and had previously closed at $33.56.

ProShares UltraPro Short S&P 500 Price Performance

The firm’s 50 day moving average price is $29.16 and its 200-day moving average price is $33.37.

Institutional Investors Weigh In On ProShares UltraPro Short S&P 500

Several hedge funds have recently made changes to their positions in SPXU. QCM Cayman Ltd. acquired a new position in shares of ProShares UltraPro Short S&P 500 in the first quarter valued at $75,000. Adalta Capital Management LLC bought a new stake in ProShares UltraPro Short S&P 500 in the 1st quarter valued at approximately $99,000. LB Partners LLC acquired a new position in ProShares UltraPro Short S&P 500 during the 4th quarter worth approximately $172,000. XR Securities LLC bought a new position in shares of ProShares UltraPro Short S&P 500 during the 4th quarter worth approximately $193,000. Finally, Essex LLC raised its holdings in shares of ProShares UltraPro Short S&P 500 by 28.0% in the fourth 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.

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.