ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Large Volume Increase – Time to Buy?

Shares of ProShares Ultra S&P500 (NYSEARCA:SSO) saw unusually-high trading volume on Friday . Approximately 2,895,933 shares changed hands during trading, an increase of 39% from the previous session’s volume of 2,089,461 shares.The stock last traded at $90.68 and had previously closed at $93.42.

ProShares Ultra S&P500 Stock Down 3.1 %

The company has a fifty day simple moving average of $95.72 and a 200 day simple moving average of $89.41.

Institutional Trading of ProShares Ultra S&P500

Several institutional investors have recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its stake in shares of ProShares Ultra S&P500 by 123.2% in the second quarter. Axxcess Wealth Management LLC now owns 316,334 shares of the real estate investment trust’s stock worth $26,129,000 after purchasing an additional 174,634 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in ProShares Ultra S&P500 by 4,542.9% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 59,754 shares of the real estate investment trust’s stock worth $5,388,000 after buying an additional 58,467 shares during the last quarter. Plotkin Financial Advisors LLC bought a new position in ProShares Ultra S&P500 during the 3rd quarter valued at about $4,384,000. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Ultra S&P500 during the 3rd quarter valued at about $3,688,000. Finally, Renaissance Technologies LLC bought a new stake in shares of ProShares Ultra S&P500 in the second quarter worth approximately $2,759,000.

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.