ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Down 3.8%

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s stock price were down 3.8% on Friday . The company traded as low as $6.59 and last traded at $6.61. Approximately 18,315,805 shares traded hands during trading, a decline of 29% from the average daily volume of 25,866,580 shares. The stock had previously closed at $6.87.

ProShares UltraPro Short S&P 500 Trading Down 3.2 %

The stock’s 50-day simple moving average is $7.16 and its two-hundred day simple moving average is $9.21.

ProShares UltraPro Short S&P 500’s stock is set to reverse split on Wednesday, April 10th. The 1-5 reverse split was announced on Wednesday, April 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, April 10th.

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

A number of large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in shares of ProShares UltraPro Short S&P 500 by 2,064.9% during the third quarter. Jane Street Group LLC now owns 596,271 shares of the exchange traded fund’s stock worth $13,368,000 after buying an additional 568,728 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $4,286,000. Tower Research Capital LLC TRC grew its holdings in shares of ProShares UltraPro Short S&P 500 by 2,805.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 465,023 shares of the exchange traded fund’s stock worth $3,999,000 after buying an additional 449,017 shares in the last quarter. IMC Chicago LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the fourth quarter worth $3,875,000. Finally, Lane Generational LLC purchased a new stake in shares of ProShares UltraPro Short S&P 500 during the third quarter worth $4,458,000.

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.