ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 52-Week High – Here’s Why

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price hit a new 52-week high during trading on Tuesday . The company 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 Price Performance

The stock’s fifty day moving average price is $91.90 and its two-hundred day moving average price is $85.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSO. Adams Wealth Management lifted its position in ProShares Ultra S&P500 by 4.7% in the second quarter. Adams Wealth Management now owns 579,609 shares of the real estate investment trust’s stock valued at $47,876,000 after acquiring an additional 26,065 shares during the last quarter. Main Street Group LTD increased its position in ProShares Ultra S&P500 by 1.2% during the second quarter. Main Street Group LTD now owns 497,464 shares of the real estate investment trust’s stock worth $41,269,000 after buying an additional 6,110 shares during the period. Axxcess Wealth Management LLC lifted its stake in ProShares Ultra S&P500 by 0.3% in the third quarter. Axxcess Wealth Management LLC now owns 317,197 shares of the real estate investment trust’s stock valued at $28,602,000 after buying an additional 863 shares during the last quarter. Ridgepath Capital Management LLC boosted its holdings in shares of ProShares Ultra S&P500 by 3.1% in the third quarter. Ridgepath Capital Management LLC now owns 312,827 shares of the real estate investment trust’s stock valued at $28,208,000 after acquiring an additional 9,316 shares during the period. Finally, Aveo Capital Partners LLC grew its position in shares of ProShares Ultra S&P500 by 148.7% during the second quarter. Aveo Capital Partners LLC now owns 147,565 shares of the real estate investment trust’s stock worth $12,189,000 after acquiring an additional 88,222 shares during the last quarter.

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.