ProShares Ultra S&P500 (NYSEARCA:SSO) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of ProShares Ultra S&P500 (NYSEARCA:SSO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $63.43 and traded as high as $70.48. ProShares Ultra S&P500 shares last traded at $70.29, with a volume of 2,809,605 shares.

ProShares Ultra S&P500 Stock Performance

The company has a market cap of $8.15 billion, a P/E ratio of 24.25 and a beta of 2.01. The business’s fifty day moving average is $68.52 and its two-hundred day moving average is $63.50.

Institutional Trading of ProShares Ultra S&P500

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in ProShares Ultra S&P500 in the first quarter worth approximately $549,000. NewEdge Advisors LLC raised its position in ProShares Ultra S&P500 by 199.8% during the 1st quarter. NewEdge Advisors LLC now owns 14,390 shares of the real estate investment trust’s stock valued at $1,191,000 after purchasing an additional 9,590 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in ProShares Ultra S&P500 during the 1st quarter valued at $41,524,000. Ausdal Financial Partners Inc. purchased a new stake in shares of ProShares Ultra S&P500 in the 2nd quarter worth $908,000. Finally, Bank of America Corp DE grew its position in shares of ProShares Ultra S&P500 by 519.0% during the 2nd quarter. Bank of America Corp DE now owns 22,283 shares of the real estate investment trust’s stock worth $2,177,000 after buying an additional 18,683 shares in the last quarter.

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.