ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Up to $15.69

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXUGet Rating)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.69, but opened at $16.08. ProShares UltraPro Short S&P 500 shares last traded at $16.00, with a volume of 211,945 shares changing hands.

ProShares UltraPro Short S&P 500 Trading Down 5.3 %

The firm’s fifty day moving average is $15.82 and its 200 day moving average is $17.06.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

Several hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in ProShares UltraPro Short S&P 500 by 2.4% during the 4th quarter. Brookstone Capital Management now owns 2,038,281 shares of the exchange traded fund’s stock valued at $32,857,000 after purchasing an additional 47,761 shares during the last quarter. WT Wealth Management purchased a new stake in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $24,087,000. Cadent Capital Advisors LLC boosted its position in ProShares UltraPro Short S&P 500 by 84.8% in the 3rd quarter. Cadent Capital Advisors LLC now owns 1,048,732 shares of the exchange traded fund’s stock valued at $23,513,000 after buying an additional 481,143 shares during the period. David R. Rahn & Associates Inc. purchased a new stake in ProShares UltraPro Short S&P 500 in the 3rd quarter valued at about $16,603,000. Finally, HM Capital Management LLC purchased a new stake in ProShares UltraPro Short S&P 500 in the 2nd quarter valued at about $12,267,000.

ProShares UltraPro Short S&P 500 Company Profile

(Get Rating)

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.

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