Shares of ProShares UltraPro S&P 500 (NYSEARCA:UPRO – Get Free Report) dropped 16.7% during trading on Thursday . The stock traded as low as $54.81 and last traded at $54.02. Approximately 7,621,568 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 4,934,013 shares. The stock had previously closed at $64.81.
ProShares UltraPro S&P 500 Stock Performance
The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 21.87 and a beta of 3.03. The stock has a fifty day simple moving average of $80.06 and a two-hundred day simple moving average of $87.61.
Hedge Funds Weigh In On ProShares UltraPro S&P 500
Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of ProShares UltraPro S&P 500 by 28.6% in the fourth quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of ProShares UltraPro S&P 500 in the fourth quarter valued at about $87,000. Blair William & Co. IL bought a new position in shares of ProShares UltraPro S&P 500 during the fourth quarter worth about $135,000. Mayflower Financial Advisors LLC acquired a new position in shares of ProShares UltraPro S&P 500 in the fourth quarter worth approximately $230,000. Finally, Koshinski Asset Management Inc. boosted its holdings in 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 acquiring an additional 212 shares during 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.
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