ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 12-Month High – Time to Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO) hit a new 52-week high during trading on Wednesday . The stock traded as high as $94.25 and last traded at $94.15, with a volume of 583387 shares. The stock had previously closed at $90.36.

ProShares Ultra S&P500 Stock Up 0.8 %

The firm’s fifty day moving average is $88.96 and its 200 day moving average is $83.45.

Institutional Investors Weigh In On ProShares Ultra S&P500

Several large investors have recently bought and sold shares of SSO. Fortitude Family Office LLC acquired a new stake in shares of ProShares Ultra S&P500 in the third quarter worth approximately $42,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of ProShares Ultra S&P500 during the second quarter worth $58,000. CWM LLC raised its position in shares of ProShares Ultra S&P500 by 964.2% in the second quarter. CWM LLC now owns 862 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 781 shares during the last quarter. Eastern Bank purchased a new position in shares of ProShares Ultra S&P500 in the third quarter worth about $81,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in 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 worth $111,000 after acquiring an additional 377 shares during 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.