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

Shares of ProShares Ultra S&P500 (NYSEARCA:SSO) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $53.98 and traded as high as $59.20. ProShares Ultra S&P500 shares last traded at $58.96, with a volume of 3,072,326 shares.

ProShares Ultra S&P500 Price Performance

The firm has a market capitalization of $7.50 billion, a PE ratio of 24.25 and a beta of 2.01. The company has a 50-day moving average price of $57.56 and a 200 day moving average price of $53.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management Inc. bought a new stake in shares of ProShares Ultra S&P500 during the second quarter valued at approximately $27,000. Evolution Wealth Management Inc. purchased a new position in ProShares Ultra S&P500 during the second quarter valued at $31,000. Global Retirement Partners LLC purchased a new position in ProShares Ultra S&P500 during the third quarter valued at $37,000. Park Square Financial Group LLC bought a new stake in ProShares Ultra S&P500 in the 3rd quarter valued at $47,000. Finally, Corsicana & Co. bought a new stake in ProShares Ultra S&P500 in the 3rd quarter valued at $52,000.

About ProShares Ultra S&P500

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.