ProShares Ultra S&P500 (NYSEARCA:SSO) Share Price Pass Above 200 Day Moving Average – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.28 and traded as high as $58.22. ProShares Ultra S&P500 shares last traded at $56.99, with a volume of 7,566,666 shares trading hands.

ProShares Ultra S&P500 Price Performance

The company’s 50-day moving average price is $57.96 and its two-hundred day moving average price is $55.28. The company has a market capitalization of $7.93 billion, a P/E ratio of 24.25 and a beta of 2.01.

Institutional Investors Weigh In On ProShares Ultra S&P500

Several hedge funds have recently bought and sold shares of the stock. First Heartland Consultants Inc. raised its holdings in ProShares Ultra S&P500 by 7.8% during the 3rd 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 last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of ProShares Ultra S&P500 by 1.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,055 shares of the real estate investment trust’s stock valued at $905,000 after purchasing an additional 167 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of 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 worth $513,000 after buying an additional 200 shares during the period. Harvest Investment Services LLC raised 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 worth $885,000 after buying an additional 271 shares during the last quarter. Finally, Beacon Capital Management Inc. acquired a new position in ProShares Ultra S&P500 in the second quarter valued at $27,000.

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.