When play or move to the end of any clip, the CTI (current time indicator or playhead) will automatically stop at the beginning of the next clip / space ... so yea, it ends on a black image. Because of course, the playhead is always at the beginning of the next frame.
Tap the left arrow key to go back one frame. There's also a keyboard shortcut you can find and map that goes to the last frame of a clip. Rather than the end.