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

ProShares Ultra S&P500 (NYSEARCA:SSO) hit a new 52-week high on Wednesday . The stock traded as high as $100.25 and last traded at $100.23, with a volume of 3822630 shares traded. The stock had previously closed at $99.72.

ProShares Ultra S&P500 Stock Performance

The company has a 50 day simple moving average of $96.08 and a two-hundred day simple moving average of $92.13.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SSO. Creative Planning grew its stake in shares of ProShares Ultra S&P500 by 6.7% during the third quarter. Creative Planning now owns 33,321 shares of the real estate investment trust’s stock valued at $3,005,000 after buying an additional 2,080 shares during the last quarter. Eastern Bank purchased a new stake in shares of ProShares Ultra S&P500 in the third quarter valued at approximately $81,000. International Assets Investment Management LLC boosted its holdings in shares of ProShares Ultra S&P500 by 8,917.0% in the third quarter. International Assets Investment Management LLC now owns 9,017 shares of the real estate investment trust’s stock valued at $813,000 after purchasing an additional 8,917 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of ProShares Ultra S&P500 in the third quarter valued at approximately $1,857,000. Finally, 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 purchasing an additional 9,316 shares during the period.

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.