ProShares Ultra S&P500 (NYSEARCA:SSO) Stock Price Cross Above Fifty Day Moving Average – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $70.24 and traded as high as $70.55. ProShares Ultra S&P500 shares last traded at $70.28, with a volume of 2,019,517 shares changing hands.

ProShares Ultra S&P500 Trading Up 1.2%

The firm’s fifty day moving average price is $70.24 and its 200 day moving average price is $64.32. The firm has a market capitalization of $8.75 billion, a PE ratio of 24.25 and a beta of 2.01.

Institutional Investors Weigh In On ProShares Ultra S&P500

Large investors have recently made changes to their positions in the company. Howard Capital Management LLC increased its holdings in ProShares Ultra S&P500 by 5.0% in the third quarter. Howard Capital Management LLC now owns 12,781,294 shares of the real estate investment trust’s stock worth $886,127,000 after buying an additional 610,680 shares during the last quarter. Turner Capital Investments LLC bought a new position in shares of ProShares Ultra S&P500 during the 3rd quarter valued at $39,489,000. Client First Investment Management LLC raised its holdings in shares of ProShares Ultra S&P500 by 361.3% during the 2nd quarter. Client First Investment Management LLC now owns 544,551 shares of the real estate investment trust’s stock valued at $36,692,000 after purchasing an additional 426,494 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of ProShares Ultra S&P500 during the 3rd quarter valued at $15,896,000. Finally, Brookstone Capital Management bought a new position in shares of ProShares Ultra S&P500 during the 3rd quarter valued at $15,647,000.

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