ProShares Ultra S&P500 (NYSEARCA:SSO – Get Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $70.27 and last traded at $70.1450, with a volume of 1095406 shares changing hands. The stock had previously closed at $68.94.
ProShares Ultra S&P500 Stock Up 3.8%
The stock’s 50-day moving average price is $67.13 and its 200 day moving average price is $61.75. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01.
Hedge Funds Weigh In On ProShares Ultra S&P500
Several institutional investors have recently added to or reduced their stakes in SSO. Evolution Wealth Management Inc. raised its stake in shares of ProShares Ultra S&P500 by 100.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 315 shares during the last quarter. Western Wealth Management LLC bought a new position in ProShares Ultra S&P500 in the 1st quarter worth approximately $37,000. Tucker Asset Management LLC acquired a new position in ProShares Ultra S&P500 during the 4th quarter worth $49,000. Bogart Wealth LLC bought a new position in ProShares Ultra S&P500 in the 1st quarter valued at $55,000. Finally, Winnow Wealth LLC increased its stake in shares of ProShares Ultra S&P500 by 100.3% in the 4th quarter. Winnow Wealth LLC now owns 1,216 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 609 shares during the period.
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.
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