ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Reaches New 12-Month High – Time to Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) hit a new 52-week high on Friday . The company traded as high as $122.28 and last traded at $122.2230, with a volume of 3552915 shares. The stock had previously closed at $119.36.

ProShares UltraPro S&P 500 Price Performance

The firm has a market capitalization of $4.88 billion, a P/E ratio of 28.62 and a beta of 3.03. The company’s 50 day moving average price is $115.42 and its 200 day moving average price is $107.08.

Institutional Investors Weigh In On ProShares UltraPro S&P 500

Institutional investors and hedge funds have recently made changes to their positions in the company. Ellis Investment Partners LLC lifted its stake in shares of ProShares UltraPro S&P 500 by 5.1% in the 2nd quarter. Ellis Investment Partners LLC now owns 10,205 shares of the company’s stock valued at $933,000 after purchasing an additional 498 shares during the period. Diversified Trust Co bought a new stake in ProShares UltraPro S&P 500 in the third quarter valued at about $5,574,000. Encompass More Asset Management lifted its stake in ProShares UltraPro S&P 500 by 190.6% in the third quarter. Encompass More Asset Management now owns 33,061 shares of the company’s stock valued at $3,686,000 after buying an additional 21,686 shares during the period. Silverleafe Capital Partners LLC lifted its stake in ProShares UltraPro S&P 500 by 85.1% in the second quarter. Silverleafe Capital Partners LLC now owns 5,847 shares of the company’s stock valued at $535,000 after buying an additional 2,688 shares during the period. Finally, HC Advisors LLC bought a new position in ProShares UltraPro S&P 500 during the second quarter worth about $245,000.

ProShares UltraPro S&P 500 Company Profile

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.