Legacy Wealth Partners LLC Purchases 26,401 Shares of ProShares Ultra S&P500 $SSO

Legacy Wealth Partners LLC raised its position in shares of ProShares Ultra S&P500 (NYSEARCA:SSO) by 377.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,400 shares of the real estate investment trust’s stock after purchasing an additional 26,401 shares during the quarter. Legacy Wealth Partners LLC’s holdings in ProShares Ultra S&P500 were worth $2,316,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Spartan Planning & Wealth Management lifted its stake in shares of ProShares Ultra S&P500 by 96.5% in the third quarter. Spartan Planning & Wealth Management now owns 12,212 shares of the real estate investment trust’s stock worth $847,000 after buying an additional 5,998 shares in the last quarter. Castleview Partners LLC increased its position in shares of ProShares Ultra S&P500 by 64.2% during the third quarter. Castleview Partners LLC now owns 7,611 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 2,976 shares in the last quarter. Balefire LLC purchased a new position in ProShares Ultra S&P500 in the 3rd quarter worth approximately $874,000. Turner Capital Investments LLC purchased a new position in ProShares Ultra S&P500 in the 3rd quarter worth approximately $39,489,000. Finally, Cadent Capital Advisors LLC lifted its position in ProShares Ultra S&P500 by 17.8% in the 3rd quarter. Cadent Capital Advisors LLC now owns 5,348 shares of the real estate investment trust’s stock valued at $371,000 after acquiring an additional 809 shares in the last quarter.

ProShares Ultra S&P500 Trading Up 0.5%

SSO stock opened at $70.82 on Friday. The stock’s 50 day simple moving average is $70.55 and its 200 day simple moving average is $66.77. ProShares Ultra S&P500 has a 12-month low of $48.63 and a 12-month high of $72.80. The stock has a market capitalization of $9.04 billion, a PE ratio of 24.25 and a beta of 2.01.

ProShares Ultra S&P500 News Roundup

Here are the key news stories impacting ProShares Ultra S&P500 this week:

• Positive Sentiment: Historical analysis offers some support for the broader market outlook: after 40 of the 54 previous periods in which the S&P 500 went at least 50 trading days without a 1% decline, the index was higher one year later. That suggests the recent pullback does not automatically signal a prolonged selloff. The S&P 500 Went More Than 50 Trading Days Without a 1% Drop. That Streak Just Ended.
• Positive Sentiment: Strategists see significant upside potential, including a Citi year-end target of 8,100 for the S&P 500, provided more than half of the market stabilizes and participates in the advance. Such a move would be amplified by SSO’s daily leverage. Citi Says the S&P 500 Hits 8,100
• Neutral Sentiment: Strong earnings expectations, driven mainly by artificial-intelligence-linked technology and energy companies, remain a potential catalyst. However, the narrow source of earnings growth increases the market’s dependence on a small group of sectors. S&P 500’s march to 8,000 hinges on third quarter
• Negative Sentiment: The S&P 500 ended a 53-session run without a daily decline of at least 1%, while hot CPI and PPI data pushed Treasury yields higher and pressured semiconductor and other growth stocks. Persistent inflation could reduce expectations for Federal Reserve easing. S&P500: Hot CPI Puts Long-Term Yields Back in Control
• Negative Sentiment: Market breadth is a concern: roughly 84% of S&P 500 constituents are in correction territory despite the index remaining near a record. This divergence raises the risk of greater volatility and is especially important for leveraged SSO investors. A Staggering 84% of S&P 500 Stocks Are Now in Correction Territory

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.