ProShares Ultra S&P500 (NYSEARCA:SSO) Reaches New 52-Week High – Time to Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $90.91 and last traded at $90.89, with a volume of 648951 shares changing hands. The stock had previously closed at $89.77.

ProShares Ultra S&P500 Trading Up 1.0 %

The business has a fifty day simple moving average of $84.76 and a 200-day simple moving average of $80.95.

Hedge Funds Weigh In On ProShares Ultra S&P500

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Founders Financial Securities LLC increased its position in ProShares Ultra S&P500 by 6.5% in the 1st quarter. Founders Financial Securities LLC now owns 4,130 shares of the real estate investment trust’s stock valued at $320,000 after buying an additional 251 shares in the last quarter. Galvin Gaustad & Stein LLC grew its stake in ProShares Ultra S&P500 by 4.6% in the second quarter. Galvin Gaustad & Stein LLC now owns 6,900 shares of the real estate investment trust’s stock valued at $570,000 after acquiring an additional 305 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of ProShares Ultra S&P500 by 39.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,344 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 377 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of ProShares Ultra S&P500 by 19.9% during the second quarter. Commonwealth Equity Services LLC now owns 3,248 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 539 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of ProShares Ultra S&P500 in the 2nd quarter worth $58,000.

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.