ProShares Ultra S&P500 (NYSEARCA:SSO – Get Free Report) shares saw an uptick in trading volume on Tuesday. 20,536,859 shares were traded during mid-day trading, an increase of 414% from the average daily volume of 3,992,632 shares. The stock last traded at $67.3520 and had previously closed at $67.02.
ProShares Ultra S&P500 Stock Down 8.8%
The stock has a market capitalization of $7.93 billion, a P/E ratio of 24.25 and a beta of 2.01. The firm’s 50 day simple moving average is $69.95 and its two-hundred day simple moving average is $64.61.
Hedge Funds Weigh In On ProShares Ultra S&P500
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC bought a new stake in ProShares Ultra S&P500 during the 3rd quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in shares of ProShares Ultra S&P500 in the third quarter worth approximately $30,000. Western Wealth Management LLC purchased a new stake in shares of ProShares Ultra S&P500 in the first quarter worth approximately $37,000. Bogart Wealth LLC bought a new position in shares of ProShares Ultra S&P500 in the first quarter valued at approximately $55,000. Finally, AlphaCore Capital LLC bought a new position in shares of ProShares Ultra S&P500 in the third quarter valued at approximately $55,000.
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.
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