ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 52-Week Low – What’s Next?

Shares of ProShares Ultra S&P500 (NYSEARCA:SSO) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $68.42 and last traded at $71.02, with a volume of 3567892 shares traded. The stock had previously closed at $76.30.

ProShares Ultra S&P500 Price Performance

The company has a 50 day moving average of $90.53 and a 200-day moving average of $92.66. The company has a market cap of $3.90 billion, a P/E ratio of 22.95 and a beta of 2.06.

ProShares Ultra S&P500 Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.1656 per share. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its position in ProShares Ultra S&P500 by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 9,820 shares of the real estate investment trust’s stock valued at $917,000 after purchasing an additional 113 shares during the last quarter. Rollins Financial Advisors LLC lifted its holdings in shares of ProShares Ultra S&P500 by 1.0% during the 4th quarter. Rollins Financial Advisors LLC now owns 12,048 shares of the real estate investment trust’s stock worth $1,115,000 after acquiring an additional 115 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in ProShares Ultra S&P500 by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,888 shares of the real estate investment trust’s stock worth $822,000 after acquiring an additional 150 shares in the last quarter. Mariner LLC increased its stake in ProShares Ultra S&P500 by 1.1% in the fourth quarter. Mariner LLC now owns 15,172 shares of the real estate investment trust’s stock valued at $1,404,000 after acquiring an additional 161 shares during the last quarter. Finally, CoreCap Advisors LLC raised its position in ProShares Ultra S&P500 by 2.7% during the fourth quarter. CoreCap Advisors LLC now owns 9,193 shares of the real estate investment trust’s stock valued at $850,000 after purchasing an additional 239 shares in the last quarter.

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.