ProShares Ultra S&P500 (NYSEARCA:SSO) Sets New 12-Month High – Still a Buy?

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

ProShares Ultra S&P500 Stock Performance

The stock’s 50 day moving average is $91.68 and its two-hundred day moving average is $85.52.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SSO. Professional Financial Advisors LLC boosted its holdings in shares of ProShares Ultra S&P500 by 0.6% in the third quarter. Professional Financial Advisors LLC now owns 25,231 shares of the real estate investment trust’s stock valued at $2,275,000 after acquiring an additional 148 shares in the last quarter. Galvin Gaustad & Stein LLC lifted its holdings in shares of ProShares Ultra S&P500 by 4.6% in the 2nd quarter. Galvin Gaustad & Stein LLC now owns 6,900 shares of the real estate investment trust’s stock valued at $570,000 after buying an additional 305 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of ProShares Ultra S&P500 by 39.0% in 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 buying an additional 377 shares in the last quarter. Fortitude Family Office LLC purchased a new position in ProShares Ultra S&P500 in the third quarter worth $42,000. Finally, BNP Paribas Financial Markets purchased a new stake in ProShares Ultra S&P500 during the third quarter worth about $48,000.

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.