ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 1-Year High – Still a Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $97.79 and last traded at $97.74, with a volume of 1188384 shares trading hands. The stock had previously closed at $96.55.

ProShares Ultra S&P500 Trading Down 0.7 %

The stock’s 50 day moving average price is $91.90 and its 200 day moving average price is $85.67.

Institutional Trading of ProShares Ultra S&P500

Institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of ProShares Ultra S&P500 during the third quarter worth about $42,000. BNP Paribas Financial Markets purchased a new position in ProShares Ultra S&P500 in the 3rd quarter worth approximately $48,000. Northwestern Mutual Wealth Management Co. purchased a new position in ProShares Ultra S&P500 in the 2nd quarter worth approximately $58,000. CWM LLC raised its stake in shares of ProShares Ultra S&P500 by 964.2% during the second quarter. CWM LLC now owns 862 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 781 shares during the period. Finally, Eastern Bank purchased a new stake in shares of ProShares Ultra S&P500 during the third quarter valued at approximately $81,000.

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.