ProShares Ultra S&P500 (NYSEARCA:SSO) Reaches New 1-Year High – Time to Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.78 and last traded at $59.4760, with a volume of 419441 shares. The stock had previously closed at $59.57.

ProShares Ultra S&P500 Trading Down 0.1%

The business has a 50-day moving average price of $57.70 and a 200 day moving average price of $54.58. The stock has a market capitalization of $7.71 billion, a P/E ratio of 24.25 and a beta of 2.01.

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 business. Beacon Capital Management Inc. purchased a new stake in shares of ProShares Ultra S&P500 during the 2nd quarter valued at about $27,000. Evolution Wealth Management Inc. purchased a new position in ProShares Ultra S&P500 in the second quarter worth about $31,000. Global Retirement Partners LLC bought a new stake in ProShares Ultra S&P500 during the third quarter worth approximately $37,000. Park Square Financial Group LLC bought a new stake in ProShares Ultra S&P500 during the third quarter worth approximately $47,000. Finally, Corsicana & Co. purchased a new stake in ProShares Ultra S&P500 during the third quarter valued at approximately $52,000.

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.