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

ProShares Ultra S&P500 (NYSEARCA:SSO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.28 and traded as high as $58.22. ProShares Ultra S&P500 shares last traded at $56.99, with a volume of 7,566,666 shares changing hands.

ProShares Ultra S&P500 Stock Down 4.1%

The stock’s fifty day moving average is $57.96 and its two-hundred day moving average is $55.28. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01.

Institutional Investors Weigh In On ProShares Ultra S&P500

Several hedge funds have recently bought and sold shares of SSO. Howard Capital Management Inc. acquired a new position in ProShares Ultra S&P500 during the second quarter worth approximately $681,531,000. Assetmark Inc. boosted its stake in shares of ProShares Ultra S&P500 by 110,080.6% during the 3rd quarter. Assetmark Inc. now owns 6,635,078 shares of the real estate investment trust’s stock worth $743,991,000 after acquiring an additional 6,629,056 shares during the period. Main Street Group LTD increased its holdings in shares of ProShares Ultra S&P500 by 3.1% during the 3rd quarter. Main Street Group LTD now owns 598,699 shares of the real estate investment trust’s stock worth $67,132,000 after acquiring an additional 17,929 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of ProShares Ultra S&P500 during the 1st quarter worth approximately $41,524,000. Finally, Global View Capital Management LLC raised its stake in ProShares Ultra S&P500 by 329.8% in the 4th quarter. Global View Capital Management LLC now owns 465,496 shares of the real estate investment trust’s stock valued at $26,962,000 after acquiring an additional 357,202 shares during the period.

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.