ProShares Ultra S&P500 (NYSEARCA:SSO) Reaches New 52-Week High – Should You Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $90.91 and last traded at $90.89, with a volume of 648951 shares. The stock had previously closed at $89.77.

ProShares Ultra S&P500 Stock Performance

The company’s 50 day moving average price is $85.09 and its 200 day moving average price is $81.09.

Hedge Funds Weigh In On ProShares Ultra S&P500

A number of hedge funds and other institutional investors have recently made changes to their positions in SSO. Northwestern Mutual Wealth Management Co. bought a new position in ProShares Ultra S&P500 during the 2nd quarter valued at about $58,000. Whittier Trust Co. bought a new position in ProShares Ultra S&P500 during the 1st quarter valued at about $60,000. CWM LLC lifted its holdings in ProShares Ultra S&P500 by 964.2% during the 2nd quarter. CWM LLC now owns 862 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 781 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in ProShares Ultra S&P500 by 39.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,344 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 377 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in ProShares Ultra S&P500 during the 2nd quarter valued at about $163,000.

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.