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

ProShares Ultra S&P500 (NYSEARCA:SSO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $53.31 and traded as high as $57.99. ProShares Ultra S&P500 shares last traded at $57.91, with a volume of 2,535,288 shares changing hands.

ProShares Ultra S&P500 Trading Up 1.8%

The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01. The stock’s 50 day moving average is $57.13 and its two-hundred day moving average is $53.37.

Hedge Funds Weigh In On ProShares Ultra S&P500

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC acquired a new position in ProShares Ultra S&P500 in the 1st quarter valued at about $397,000. DRW Securities LLC purchased a new position in shares of ProShares Ultra S&P500 in the 1st quarter valued at approximately $233,000. Clark Capital Management Group Inc. increased its holdings in shares of ProShares Ultra S&P500 by 11.7% in the first quarter. Clark Capital Management Group Inc. now owns 4,266 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 447 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of ProShares Ultra S&P500 in the first quarter valued at approximately $549,000. Finally, NewEdge Advisors LLC raised its stake in shares of ProShares Ultra S&P500 by 199.8% during the first quarter. NewEdge Advisors LLC now owns 14,390 shares of the real estate investment trust’s stock worth $1,191,000 after purchasing an additional 9,590 shares during the last quarter.

ProShares Ultra S&P500 Company Profile

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.