ProShares UltraPro Short S&P 500 (SPXU) Shares Gap Down to $34.89

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ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped down prior to trading on Thursday . The stock had previously closed at $33.52, but opened at $34.89. ProShares UltraPro Short S&P 500 shares last traded at $34.93, with a volume of 90027 shares trading hands.

A hedge fund recently bought a new stake in ProShares UltraPro Short S&P 500 stock. Trellus Management Company LLC bought a new stake in ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 35,000 shares of the exchange traded fund’s stock, valued at approximately $1,128,000. ProShares UltraPro Short S&P 500 comprises approximately 1.6% of Trellus Management Company LLC’s holdings, making the stock its 15th largest holding. Trellus Management Company LLC owned 0.29% of ProShares UltraPro Short S&P 500 at the end of the most recent reporting period.

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About ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU)

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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