ProShares Ultra S&P500 (NYSEARCA:SSO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

ProShares Ultra S&P500 (NYSEARCA:SSO) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.87 and traded as high as $68.82. ProShares Ultra S&P500 shares last traded at $68.72, with a volume of 2,336,629 shares traded.

ProShares Ultra S&P500 Price Performance

The company has a 50-day simple moving average of $66.92 and a two-hundred day simple moving average of $60.87. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01.

Hedge Funds Weigh In On ProShares Ultra S&P500

Institutional investors have recently modified their holdings of the company. Wealth Group Ltd bought a new stake in ProShares Ultra S&P500 in the 2nd quarter valued at about $210,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in ProShares Ultra S&P500 during the 2nd quarter valued at about $1,325,000. Bay Rivers Group bought a new position in ProShares Ultra S&P500 in the 2nd quarter worth about $246,000. Professional Financial Advisors LLC grew its position in ProShares Ultra S&P500 by 2.4% in the 2nd quarter. Professional Financial Advisors LLC now owns 51,244 shares of the real estate investment trust’s stock worth $3,453,000 after purchasing an additional 1,192 shares during the last quarter. Finally, Allied Private Wealth LLC bought a new position in ProShares Ultra S&P500 in the 2nd quarter worth about $496,000.

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.