ProShares Ultra S&P500 (NYSEARCA:SSO) Shares Pass Above 200-Day Moving Average – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.87 and traded as high as $68.82. ProShares Ultra S&P500 shares last traded at $68.72, with a volume of 2,336,629 shares changing hands.

ProShares Ultra S&P500 Price Performance

The company has a 50-day moving average of $66.92 and a two-hundred day moving average of $60.87. The stock has a market capitalization of $8.18 billion, a PE ratio of 24.25 and a beta of 2.01.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Evolution Wealth Management Inc. grew its holdings in ProShares Ultra S&P500 by 100.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 315 shares during the period. Sunbelt Securities Inc. raised its stake in ProShares Ultra S&P500 by 153.2% during the third quarter. Sunbelt Securities Inc. now owns 704 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 426 shares during the period. Western Wealth Management LLC purchased a new position in ProShares Ultra S&P500 during the first quarter worth approximately $37,000. Tucker Asset Management LLC acquired a new position in shares of ProShares Ultra S&P500 in the 4th quarter valued at $49,000. Finally, Corsicana & Co. boosted its holdings in shares of ProShares Ultra S&P500 by 100.0% in the 4th quarter. Corsicana & Co. now owns 920 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 460 shares during the last quarter.

About ProShares Ultra S&P500

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.