Axxcess Wealth Management LLC Invests $4.11 Million in ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

Axxcess Wealth Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 182,507 shares of the exchange traded fund’s stock, valued at approximately $4,112,000. Axxcess Wealth Management LLC owned approximately 1.15% of ProShares UltraPro Short S&P 500 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new position in shares of ProShares UltraPro Short S&P 500 in the third quarter worth $287,000. Larson Financial Group LLC bought a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth $301,000. Sollinda Capital Management LLC bought a new stake in shares of ProShares UltraPro Short S&P 500 during the 4th quarter worth $612,000. DRW Securities LLC purchased a new position in ProShares UltraPro Short S&P 500 in the third quarter worth $1,090,000. Finally, Ridgepath Capital Management LLC bought a new position in ProShares UltraPro Short S&P 500 in the fourth quarter valued at $4,112,000.

ProShares UltraPro Short S&P 500 Stock Up 3.2 %

Shares of SPXU stock opened at $25.77 on Wednesday. The business has a 50-day moving average price of $22.10 and a two-hundred day moving average price of $22.97. ProShares UltraPro Short S&P 500 has a 12-month low of $19.89 and a 12-month high of $38.63.

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.