ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Reaches New 12-Month Low – Should You Sell?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) reached a new 52-week low during trading on Friday . The company traded as low as $57.58 and last traded at $57.12, with a volume of 4098653 shares trading hands. The stock had previously closed at $65.13.

ProShares UltraPro S&P 500 Stock Performance

The company’s fifty day simple moving average is $85.24 and its two-hundred day simple moving average is $88.93. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 21.87 and a beta of 3.03.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in ProShares UltraPro S&P 500 by 28.6% in the fourth quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of ProShares UltraPro S&P 500 in the 4th quarter valued at about $87,000. Blair William & Co. IL bought a new stake in shares of ProShares UltraPro S&P 500 during the 4th quarter valued at about $135,000. Mayflower Financial Advisors LLC acquired a new stake in ProShares UltraPro S&P 500 during the fourth quarter worth about $230,000. Finally, Koshinski Asset Management Inc. lifted its holdings in ProShares UltraPro S&P 500 by 8.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 2,793 shares of the company’s stock worth $248,000 after acquiring an additional 212 shares during the last quarter.

ProShares UltraPro S&P 500 Company Profile

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.