ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Reaches New 12-Month High – Still a Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $146.41 and last traded at $146.36, with a volume of 754888 shares traded. The stock had previously closed at $143.08.

ProShares UltraPro S&P 500 Stock Performance

The firm has a market cap of $5.30 billion, a P/E ratio of 28.62 and a beta of 3.02. The business’s 50-day simple moving average is $118.81 and its 200 day simple moving average is $116.93.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of ProShares UltraPro S&P 500 by 12.7% in the first quarter. EverSource Wealth Advisors LLC now owns 17,568 shares of the company’s stock worth $1,704,000 after buying an additional 1,982 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of ProShares UltraPro S&P 500 in the first quarter worth approximately $2,819,000. Independent Financial Group LLC purchased a new position in shares of ProShares UltraPro S&P 500 in the first quarter worth approximately $1,962,000. IMC Chicago LLC purchased a new position in shares of ProShares UltraPro S&P 500 in the first quarter worth approximately $3,215,000. Finally, Calamos Advisors LLC purchased a new position in shares of ProShares UltraPro S&P 500 in the first quarter worth approximately $442,000.

About ProShares UltraPro S&P 500

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.