ProShares Ultra S&P500 (NYSEARCA:SSO) Share Price Break Below 200 Day Moving Average – Time to Sell?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $64.61 and traded as low as $63.43. ProShares Ultra S&P500 shares last traded at $63.51, with a volume of 9,540,796 shares trading hands.

ProShares Ultra S&P500 Trading Down 8.8%

The firm’s 50 day moving average is $69.95 and its two-hundred day moving average is $64.61. The firm has a market cap 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 company. Blue Bell Private Wealth Management LLC bought a new position in shares of ProShares Ultra S&P500 during the third quarter worth $27,000. Root Financial Partners LLC acquired a new position in shares of ProShares Ultra S&P500 in the 3rd quarter valued at $30,000. Western Wealth Management LLC acquired a new position in shares of ProShares Ultra S&P500 in the 1st quarter valued at $37,000. CENTRAL TRUST Co bought a new stake in shares of ProShares Ultra S&P500 in the 3rd quarter valued at $39,000. Finally, AlphaCore Capital LLC bought a new stake in shares of ProShares Ultra S&P500 in the 3rd quarter valued at $55,000.

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.