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ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $44.54 and traded as low as $36.96. ProShares UltraPro Short S&P 500 shares last traded at $37.27, with a volume of 10,115,755 shares trading

ProShares UltraPro Short S&P 500 ETF (SPXU) offers -3x daily leverage, making it popular for short-term trading but risky due to leverage drift. SPXU's drift has been positive (8.52%) over the past year, but long-term holding risks steep decay, especially in whipsaw markets. Leverage drift in SPXU is path-dependent: volatility and leverage amplify decay, while trending markets can produce positive drift.