ProShares Ultra Health Care (NYSEARCA:RXL) Stock Cross Below Two Hundred Day Moving Average – Should You Sell?

ProShares Ultra Health Care (NYSEARCA:RXL) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $52.79 and traded as low as $44.46. ProShares Ultra Health Care shares last traded at $45.18, with a volume of 3,093 shares changing hands.

ProShares Ultra Health Care Price Performance

The company’s fifty day moving average is $50.60 and its 200 day moving average is $52.79.

Hedge Funds Weigh In On ProShares Ultra Health Care

A hedge fund recently bought a new stake in ProShares Ultra Health Care stock. Jane Street Group LLC purchased a new position in shares of ProShares Ultra Health Care (NYSEARCA:RXL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,251 shares of the company’s stock, valued at approximately $364,000. Jane Street Group LLC owned approximately 0.36% of ProShares Ultra Health Care as of its most recent filing with the Securities and Exchange Commission.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics.