ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 12-Month High – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $72.64 and last traded at $72.7740, with a volume of 376463 shares trading hands. The stock had previously closed at $71.54.

ProShares Ultra S&P500 Price Performance

The stock’s 50 day moving average price is $67.43 and its two-hundred day moving average price is $62.37. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SSO. Wealth Group Ltd acquired a new stake in shares of ProShares Ultra S&P500 in the second quarter valued at about $210,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of ProShares Ultra S&P500 during the 2nd quarter worth about $1,325,000. Bay Rivers Group bought a new stake in ProShares Ultra S&P500 during the 2nd quarter valued at approximately $246,000. Professional Financial Advisors LLC boosted its stake in ProShares Ultra S&P500 by 2.4% during the 2nd quarter. Professional Financial Advisors LLC now owns 51,244 shares of the real estate investment trust’s stock valued at $3,453,000 after purchasing an additional 1,192 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in ProShares Ultra S&P500 in the 2nd quarter valued at approximately $496,000.

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.