ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Hits New 1-Year High – Still a Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $146.41 and last traded at $146.36, with a volume of 754888 shares changing hands. The stock had previously closed at $143.08.

ProShares UltraPro S&P 500 Trading Up 1.6%

The business has a fifty day moving average of $120.47 and a 200 day moving average of $117.38. The company has a market capitalization of $5.41 billion, a PE ratio of 28.62 and a beta of 3.02.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in shares of ProShares UltraPro S&P 500 by 12.7% during the first quarter. EverSource Wealth Advisors LLC now owns 17,568 shares of the company’s stock worth $1,704,000 after buying an additional 1,982 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of ProShares UltraPro S&P 500 during the first quarter worth about $2,819,000. Independent Financial Group LLC acquired a new position in shares of ProShares UltraPro S&P 500 during the first quarter worth about $1,962,000. IMC Chicago LLC acquired a new position in shares of ProShares UltraPro S&P 500 during the first quarter worth about $3,215,000. Finally, Calamos Advisors LLC acquired a new position in shares of ProShares UltraPro S&P 500 during the first quarter worth about $442,000.

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.