ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Stock Cross Above 50-Day Moving Average – Time to Sell?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $149.91 and traded as high as $151.64. ProShares UltraPro S&P 500 shares last traded at $151.14, with a volume of 1,699,328 shares traded.

ProShares UltraPro S&P 500 Stock Down 5.5%

The company has a market capitalization of $5.20 billion, a PE ratio of 28.62 and a beta of 3.03. The firm’s 50-day moving average is $149.71 and its 200-day moving average is $133.63.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in UPRO. Hickory Point Bank & Trust lifted its position in ProShares UltraPro S&P 500 by 6.4% in the third quarter. Hickory Point Bank & Trust now owns 5,222 shares of the company’s stock valued at $767,000 after purchasing an additional 314 shares during the last quarter. Signaturefd LLC bought a new position in shares of ProShares UltraPro S&P 500 during the third quarter valued at approximately $84,000. Nicholas Hoffman & Company LLC. increased its stake in shares of ProShares UltraPro S&P 500 by 25.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 3,610 shares of the company’s stock valued at $350,000 after purchasing an additional 733 shares in the last quarter. Westmount Partners LLC lifted its holdings in shares of ProShares UltraPro S&P 500 by 10.4% during the second quarter. Westmount Partners LLC now owns 9,370 shares of the company’s stock valued at $1,329,000 after purchasing an additional 884 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID purchased a new position in shares of ProShares UltraPro S&P 500 during the second quarter valued at approximately $232,000.

About ProShares UltraPro S&P 500

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.