ProShares Ultra S&P500 (NYSEARCA:SSO) Shares Pass Above 200 Day Moving Average – Here’s Why

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $88.82 and traded as high as $93.96. ProShares Ultra S&P500 shares last traded at $92.51, with a volume of 2,011,098 shares trading hands.

ProShares Ultra S&P500 Price Performance

The firm’s 50-day simple moving average is $95.36 and its 200 day simple moving average is $88.92.

Institutional Trading of ProShares Ultra S&P500

Hedge funds and other institutional investors have recently modified their holdings of the business. Professional Financial Advisors LLC boosted its stake in ProShares Ultra S&P500 by 0.6% in the 3rd quarter. Professional Financial Advisors LLC now owns 25,231 shares of the real estate investment trust’s stock worth $2,275,000 after purchasing an additional 148 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position 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 acquiring an additional 377 shares during the period. Fortitude Family Office LLC purchased a new position in ProShares Ultra S&P500 during the third quarter valued at approximately $42,000. BNP Paribas Financial Markets bought a new stake in ProShares Ultra S&P500 during the 3rd quarter worth approximately $48,000. Finally, Commonwealth Equity Services LLC lifted its stake in ProShares Ultra S&P500 by 19.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,248 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 539 shares in 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.