ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Strong Trading Volume – Here’s Why

ProShares Ultra S&P500 (NYSEARCA:SSO) shares saw unusually-strong trading volume on Monday . Approximately 2,735,554 shares changed hands during mid-day trading, a decline of 1% from the previous session’s volume of 2,749,317 shares.The stock last traded at $80.49 and had previously closed at $81.80.

ProShares Ultra S&P500 Stock Down 0.9 %

The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 22.95 and a beta of 2.06. The business’s fifty day moving average is $92.46 and its 200 day moving average is $92.97.

ProShares Ultra S&P500 Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be issued a $0.1656 dividend. The ex-dividend date is Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Ultra S&P500

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in ProShares Ultra S&P500 in the 3rd quarter valued at about $48,000. Compass Planning Associates Inc acquired a new stake in ProShares Ultra S&P500 in the fourth quarter valued at about $56,000. Johnson Financial Group Inc. increased its position in ProShares Ultra S&P500 by 92.1% during the 4th quarter. Johnson Financial Group Inc. now owns 680 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 326 shares in the last quarter. Abound Wealth Management boosted its holdings in shares of ProShares Ultra S&P500 by 46.7% during the 4th quarter. Abound Wealth Management now owns 782 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 249 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of ProShares Ultra S&P500 in the fourth quarter valued at approximately $123,000.

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.