ProShares Ultra S&P500 (NYSEARCA:SSO) Share Price Pass Above 200-Day Moving Average – Should You Sell?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $56.68 and traded as high as $58.70. ProShares Ultra S&P500 shares last traded at $57.43, with a volume of 5,515,056 shares traded.

ProShares Ultra S&P500 Stock Down 2.1%

The firm has a 50-day moving average price of $58.68 and a 200 day moving average price of $56.68. The firm has a market capitalization of $7.56 billion, a PE ratio of 24.25 and a beta of 2.01.

Hedge Funds Weigh In On ProShares Ultra S&P500

Institutional investors have recently bought and sold shares of the company. Howard Capital Management Inc. acquired a new stake in shares of ProShares Ultra S&P500 during the second quarter worth about $681,531,000. Assetmark Inc. grew its holdings in shares of ProShares Ultra S&P500 by 110,080.6% in the third quarter. Assetmark Inc. now owns 6,635,078 shares of the real estate investment trust’s stock valued at $743,991,000 after purchasing an additional 6,629,056 shares in the last quarter. Main Street Group LTD increased its stake in ProShares Ultra S&P500 by 101.6% during the 4th quarter. Main Street Group LTD now owns 1,207,033 shares of the real estate investment trust’s stock worth $69,911,000 after buying an additional 608,334 shares during the period. Goldman Sachs Group Inc. purchased a new stake in ProShares Ultra S&P500 during the 1st quarter worth approximately $41,524,000. Finally, Client First Investment Management LLC lifted its holdings in ProShares Ultra S&P500 by 493.5% during the 4th quarter. Client First Investment Management LLC now owns 540,061 shares of the real estate investment trust’s stock worth $31,280,000 after buying an additional 449,066 shares in the last quarter.

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.