Beacon Pointe Advisors LLC Lowers Stock Holdings in ProShares Ultra S&P500 (NYSEARCA:SSO)

Beacon Pointe Advisors LLC cut its holdings in shares of ProShares Ultra S&P500 (NYSEARCA:SSO) by 43.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,770 shares of the real estate investment trust’s stock after selling 2,092 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in ProShares Ultra S&P500 were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SSO. Tidal Investments LLC purchased a new position in shares of ProShares Ultra S&P500 during the 3rd quarter worth about $1,137,000. JPMorgan Chase & Co. raised its stake in ProShares Ultra S&P500 by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 36,272 shares of the real estate investment trust’s stock worth $3,271,000 after purchasing an additional 6,406 shares during the period. Silverleafe Capital Partners LLC raised its stake in ProShares Ultra S&P500 by 44.7% during the fourth quarter. Silverleafe Capital Partners LLC now owns 4,097 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 1,266 shares during the period. Innova Wealth Partners acquired a new position in shares of ProShares Ultra S&P500 in the 4th quarter valued at $2,442,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of ProShares Ultra S&P500 by 9.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,538 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 800 shares during the period.

ProShares Ultra S&P500 Trading Down 1.1 %

Shares of SSO opened at $81.95 on Tuesday. ProShares Ultra S&P500 has a twelve month low of $60.84 and a twelve month high of $100.29. The firm has a market capitalization of $4.93 billion, a P/E ratio of 21.58 and a beta of 2.02. The stock’s fifty day simple moving average is $80.03 and its 200 day simple moving average is $90.17.

ProShares Ultra S&P500 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.