ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Reaches New 52-Week High – Still a Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) shares reached a new 52-week high during trading on Monday . The company traded as high as $97.60 and last traded at $97.33, with a volume of 741491 shares. The stock had previously closed at $97.05.

ProShares UltraPro S&P 500 Price Performance

The stock has a fifty day moving average price of $89.23 and a two-hundred day moving average price of $81.00.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

Several institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new position in ProShares UltraPro S&P 500 in the third quarter valued at $83,436,000. Quadrature Capital Ltd purchased a new position in shares of ProShares UltraPro S&P 500 in the 3rd quarter worth about $15,552,000. Flow Traders U.S. LLC grew its stake in shares of ProShares UltraPro S&P 500 by 320.6% in the third quarter. Flow Traders U.S. LLC now owns 83,915 shares of the company’s stock valued at $7,233,000 after buying an additional 63,966 shares in the last quarter. Sollinda Capital Management LLC acquired a new stake in shares of ProShares UltraPro S&P 500 in the second quarter valued at about $5,403,000. Finally, Axxcess Wealth Management LLC grew its stake in shares of ProShares UltraPro S&P 500 by 603.2% in the second quarter. Axxcess Wealth Management LLC now owns 57,540 shares of the company’s stock valued at $4,421,000 after buying an additional 49,357 shares in the last quarter.

About ProShares UltraPro S&P 500

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.