Shares of ProShares Ultra S&P500 (NYSEARCA:SSO – Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $64.61 and traded as low as $63.43. ProShares Ultra S&P500 shares last traded at $63.51, with a volume of 9,540,796 shares trading hands.
ProShares Ultra S&P500 Price Performance
The stock has a 50 day simple moving average of $69.80 and a 200-day simple moving average of $64.65. The firm has a market cap of $6.91 billion, a PE ratio of 24.25 and a beta of 2.01.
Hedge Funds Weigh In On ProShares Ultra S&P500
Several institutional investors and hedge funds have recently modified their holdings of SSO. Howard Capital Management LLC boosted its stake in ProShares Ultra S&P500 by 5.0% in the 3rd quarter. Howard Capital Management LLC now owns 12,781,294 shares of the real estate investment trust’s stock worth $886,127,000 after purchasing an additional 610,680 shares in the last quarter. TTP Investments Inc. grew its position in ProShares Ultra S&P500 by 15.8% during the 3rd quarter. TTP Investments Inc. now owns 1,104,915 shares of the real estate investment trust’s stock valued at $76,604,000 after purchasing an additional 151,108 shares during the last quarter. Turner Capital Investments LLC bought a new stake in ProShares Ultra S&P500 during the 3rd quarter valued at about $39,489,000. Client First Investment Management LLC increased its stake in ProShares Ultra S&P500 by 361.3% during the 2nd quarter. Client First Investment Management LLC now owns 544,551 shares of the real estate investment trust’s stock valued at $36,692,000 after purchasing an additional 426,494 shares in the last quarter. Finally, Ridgepath Capital Management LLC increased its stake in ProShares Ultra S&P500 by 5.6% during the 3rd quarter. Ridgepath Capital Management LLC now owns 389,771 shares of the real estate investment trust’s stock valued at $27,023,000 after purchasing an additional 20,664 shares in the last quarter.
ProShares Ultra S&P500 Company Profile
ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice (200%) the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a float-adjusted market capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.
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