ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Large Volume Increase – Should You Buy?

ProShares Ultra S&P500 (NYSEARCA:SSO) shares saw unusually-strong trading volume on Monday . Approximately 3,619,364 shares were traded during trading, an increase of 32% from the previous session’s volume of 2,736,497 shares.The stock last traded at $84.57 and had previously closed at $83.82.

ProShares Ultra S&P500 Price Performance

The firm has a market cap of $4.64 billion, a PE ratio of 22.99 and a beta of 2.06. The stock’s fifty day simple moving average is $94.08 and its 200-day simple moving average is $92.87.

Hedge Funds Weigh In On ProShares Ultra S&P500

Hedge funds have recently made changes to their positions in the company. Main Street Group LTD boosted its holdings in shares of ProShares Ultra S&P500 by 4.4% during the 4th quarter. Main Street Group LTD now owns 539,510 shares of the real estate investment trust’s stock worth $49,910,000 after purchasing an additional 22,830 shares during the last quarter. CacheTech Inc. lifted its position in ProShares Ultra S&P500 by 3.9% during the fourth quarter. CacheTech Inc. now owns 539,150 shares of the real estate investment trust’s stock worth $49,872,000 after buying an additional 19,989 shares in the last quarter. Adams Wealth Management boosted its stake in ProShares Ultra S&P500 by 3.1% during the fourth quarter. Adams Wealth Management now owns 535,377 shares of the real estate investment trust’s stock worth $49,523,000 after buying an additional 16,216 shares during the last quarter. Client First Investment Management LLC grew its holdings in ProShares Ultra S&P500 by 15.9% in the 4th quarter. Client First Investment Management LLC now owns 388,008 shares of the real estate investment trust’s stock valued at $35,895,000 after buying an additional 53,310 shares in the last quarter. Finally, Ridgepath Capital Management LLC increased its stake in shares of ProShares Ultra S&P500 by 0.8% in the 4th quarter. Ridgepath Capital Management LLC now owns 315,299 shares of the real estate investment trust’s stock worth $29,168,000 after acquiring an additional 2,472 shares during 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.