ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Strong Trading Volume – Here’s Why

Shares of ProShares Ultra S&P500 (NYSEARCA:SSO) saw strong trading volume on Monday . 18,240,122 shares were traded during trading, an increase of 300% from the previous session’s volume of 4,563,689 shares.The stock last traded at $53.16 and had previously closed at $51.86.

ProShares Ultra S&P500 Stock Up 3.0%

The firm has a market cap of $7.03 billion, a P/E ratio of 24.25 and a beta of 2.01. The firm’s 50-day simple moving average is $57.76 and its 200 day simple moving average is $57.19.

Institutional Investors Weigh In On ProShares Ultra S&P500

A number of hedge funds have recently modified their holdings of the stock. First Heartland Consultants Inc. increased its holdings in shares of ProShares Ultra S&P500 by 7.8% in the third quarter. First Heartland Consultants Inc. now owns 2,248 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 163 shares during the period. Tudor Investment Corp ET AL boosted its stake in ProShares Ultra S&P500 by 4.6% during the third quarter. Tudor Investment Corp ET AL now owns 4,573 shares of the real estate investment trust’s stock valued at $513,000 after buying an additional 200 shares during the period. Harvest Investment Services LLC boosted its stake in ProShares Ultra S&P500 by 3.6% during the third quarter. Harvest Investment Services LLC now owns 7,897 shares of the real estate investment trust’s stock valued at $885,000 after buying an additional 271 shares during the period. Beacon Capital Management Inc. purchased a new position in ProShares Ultra S&P500 during the second quarter worth about $27,000. Finally, Bank of America Corp DE grew its position in ProShares Ultra S&P500 by 1.3% during the third quarter. Bank of America Corp DE now owns 22,583 shares of the real estate investment trust’s stock worth $2,532,000 after buying an additional 300 shares in 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.