ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Hits New 1-Year High – Time to Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $122.85 and last traded at $121.8830, with a volume of 882778 shares traded. The stock had previously closed at $121.67.

ProShares UltraPro S&P 500 Price Performance

The firm’s 50 day moving average is $117.49 and its 200 day moving average is $110.05. The company has a market cap of $4.79 billion, a PE ratio of 28.62 and a beta of 3.03.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. bought a new stake in ProShares UltraPro S&P 500 during the third quarter valued at $37,000. Allworth Financial LP raised its holdings in shares of ProShares UltraPro S&P 500 by 96.6% in the 2nd quarter. Allworth Financial LP now owns 627 shares of the company’s stock valued at $57,000 after acquiring an additional 308 shares in the last quarter. Legacy Wealth Managment LLC ID bought a new stake in shares of ProShares UltraPro S&P 500 during the 2nd quarter valued at about $64,000. Physician Wealth Advisors Inc. grew its holdings in shares of ProShares UltraPro S&P 500 by 11.6% during the third quarter. Physician Wealth Advisors Inc. now owns 944 shares of the company’s stock worth $105,000 after purchasing an additional 98 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of ProShares UltraPro S&P 500 during the second quarter worth about $90,000.

ProShares UltraPro S&P 500 Company Profile

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.