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

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) shares gapped up prior to trading on Tuesday . The stock had previously closed at $23.01, but opened at $23.51. ProShares UltraPro Short S&P 500 shares last traded at $24.32, with a volume of 4,407,476 shares changing hands.

ProShares UltraPro Short S&P 500 Stock Up 1.2 %

The firm has a fifty day simple moving average of $21.35 and a 200 day simple moving average of $23.08.

Institutional Inflows and Outflows

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