ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $38.44, but opened at $36.64. ProShares UltraPro Short S&P 500 shares last traded at $35.27, with a volume of 4002021 shares traded.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Sawtooth Solutions LLC bought a new position in ProShares UltraPro Short S&P 500 during the third quarter worth about $281,000. Tower Research Capital LLC TRC boosted its holdings in ProShares UltraPro Short S&P 500 by 2,606.4% during the third quarter. Tower Research Capital LLC TRC now owns 15,995 shares of the exchange traded fund’s stock worth $515,000 after buying an additional 15,404 shares during the last quarter. Finally, Trellus Management Company LLC bought a new position in ProShares UltraPro Short S&P 500 during the third quarter worth about $1,128,000.
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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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