ProShares Ultra Health Care (NYSEARCA:RXL) Shares Cross Below 50-Day Moving Average – What’s Next?

ProShares Ultra Health Care (NYSEARCA:RXL)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $55.40 and traded as low as $50.47. ProShares Ultra Health Care shares last traded at $50.47, with a volume of 1,734 shares traded.

ProShares Ultra Health Care Price Performance

The stock has a 50-day simple moving average of $55.26 and a two-hundred day simple moving average of $53.15.

Institutional Investors 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 bought a new position in ProShares Ultra Health Care (NYSEARCA:RXL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 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 at the end of the most recent quarter.

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.