ProShares Ultra S&P500 (NYSEARCA:SSO) Sets New 12-Month High – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.24 and last traded at $60.08, with a volume of 2429916 shares changing hands. The stock had previously closed at $59.90.

ProShares Ultra S&P500 Price Performance

The firm has a market capitalization of $8.03 billion, a PE ratio of 24.25 and a beta of 2.01. The company has a fifty day moving average of $57.84 and a 200-day moving average of $54.98.

Institutional Investors Weigh In On ProShares Ultra S&P500

Institutional investors have recently made changes to their positions in the stock. Norden Group LLC lifted its holdings in shares of ProShares Ultra S&P500 by 7.8% during the second quarter. Norden Group LLC now owns 7,758 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 559 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of ProShares Ultra S&P500 during the 2nd quarter valued at $222,000. Genesee Capital Advisors LLC bought a new stake in shares of ProShares Ultra S&P500 during the second quarter valued at approximately $393,000. Wealth Enhancement Advisory Services LLC increased its stake in ProShares Ultra S&P500 by 1.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,055 shares of the real estate investment trust’s stock worth $905,000 after acquiring an additional 167 shares during the last quarter. Finally, Cadent Capital Advisors LLC purchased a new position in shares of ProShares Ultra S&P500 in the 2nd quarter worth $215,000.

ProShares Ultra S&P500 Company 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. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.