ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Shares Down 8.6% – What’s Next?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s share price fell 8.6% during trading on Wednesday . The stock traded as low as $56.83 and last traded at $56.93. 5,999,651 shares changed hands during trading, an increase of 21% from the average session volume of 4,977,567 shares. The stock had previously closed at $62.29.

ProShares UltraPro S&P 500 Stock Performance

The company has a market cap of $2.78 billion, a P/E ratio of 21.87 and a beta of 3.03. The stock has a 50-day moving average of $78.72 and a two-hundred day moving average of $87.30.

Institutional Investors Weigh In On ProShares UltraPro S&P 500

A number of hedge funds have recently made changes to their positions in the business. Erickson Financial Group LLC increased its position in shares of ProShares UltraPro S&P 500 by 6.1% in the first quarter. Erickson Financial Group LLC now owns 8,184 shares of the company’s stock valued at $605,000 after acquiring an additional 474 shares during the period. IMC Chicago LLC bought a new position in shares of ProShares UltraPro S&P 500 during the 1st quarter valued at $15,528,000. Kwmg LLC increased its holdings in ProShares UltraPro S&P 500 by 7.6% during the first quarter. Kwmg LLC now owns 5,518 shares of the company’s stock valued at $408,000 after buying an additional 390 shares during the last quarter. Discipline Wealth Solutions LLC boosted its position in shares of ProShares UltraPro S&P 500 by 47.4% in the fourth quarter. Discipline Wealth Solutions LLC now owns 7,333 shares of the company’s stock worth $650,000 after purchasing an additional 2,359 shares during the period. Finally, Safe Harbor Fiduciary LLC grew its holdings in ProShares UltraPro S&P 500 by 22,698.0% during the 4th quarter. Safe Harbor Fiduciary LLC now owns 11,399 shares of the company’s stock valued at $1,010,000 after buying an additional 11,349 shares in the last quarter.

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.