Richmond Brothers Inc. Raises Holdings in ProShares Ultra S&P500 $SSO

Richmond Brothers Inc. lifted its holdings in shares of ProShares Ultra S&P500 (NYSEARCA:SSO) by 409.5% in the fourth quarter, HoldingsChannel reports. The firm owned 35,941 shares of the real estate investment trust’s stock after acquiring an additional 28,887 shares during the period. ProShares Ultra S&P500 makes up about 1.3% of Richmond Brothers Inc.’s portfolio, making the stock its 21st biggest holding. Richmond Brothers Inc.’s holdings in ProShares Ultra S&P500 were worth $2,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in ProShares Ultra S&P500 in the 3rd quarter worth approximately $47,000. Evolution Wealth Management Inc. grew its stake in ProShares Ultra S&P500 by 100.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 315 shares during the period. Sunbelt Securities Inc. grew its stake in ProShares Ultra S&P500 by 153.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 704 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 426 shares during the period. Financial Life Planners purchased a new stake in ProShares Ultra S&P500 in the 3rd quarter worth approximately $82,000. Finally, Tucker Asset Management LLC purchased a new stake in ProShares Ultra S&P500 in the 4th quarter worth approximately $49,000.

ProShares Ultra S&P500 Stock Performance

SSO stock opened at $65.83 on Friday. The stock has a market capitalization of $7.61 billion, a P/E ratio of 24.25 and a beta of 2.01. ProShares Ultra S&P500 has a one year low of $44.99 and a one year high of $70.13. The company has a 50 day moving average price of $63.30 and a two-hundred day moving average price of $59.53.

ProShares Ultra S&P500 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. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.