ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Trading Up 18.4% – Should You Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) shot up 18.4% during mid-day trading on Wednesday . The company traded as high as $58.86 and last traded at $59.95. 12,588,024 shares traded hands during trading, an increase of 158% from the average session volume of 4,874,693 shares. The stock had previously closed at $50.65.

ProShares UltraPro S&P 500 Stock Performance

The firm has a market capitalization of $3.10 billion, a P/E ratio of 21.87 and a beta of 3.03. The firm’s 50-day moving average is $82.64 and its 200 day moving average is $88.27.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UPRO. Farther Finance Advisors LLC boosted its holdings in shares of ProShares UltraPro S&P 500 by 28.6% in the 4th quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock valued at $80,000 after buying an additional 200 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of ProShares UltraPro S&P 500 by 8.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 2,793 shares of the company’s stock valued at $248,000 after buying an additional 212 shares in the last quarter. Erickson Financial Group LLC raised its stake in ProShares UltraPro S&P 500 by 3.2% in the fourth quarter. Erickson Financial Group LLC now owns 7,710 shares of the company’s stock valued at $683,000 after purchasing an additional 237 shares in the last quarter. Main Street Group LTD boosted its holdings in shares of ProShares UltraPro S&P 500 by 0.7% in the 4th quarter. Main Street Group LTD now owns 43,274 shares of the company’s stock valued at $3,836,000 after purchasing an additional 284 shares in the last quarter. Finally, Millington Financial Advisors LLC raised its stake in ProShares UltraPro S&P 500 by 1.1% during the fourth quarter. Millington Financial Advisors LLC now owns 32,149 shares of the company’s stock worth $2,977,000 after acquiring an additional 338 shares in the last quarter.

About ProShares UltraPro S&P 500

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.