ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Shares Gap Down – Time to Sell?

Shares of ProShares UltraPro S&P 500 (NYSEARCA:UPRO) gapped down prior to trading on Monday . The stock had previously closed at $53.82, but opened at $48.17. ProShares UltraPro S&P 500 shares last traded at $46.37, with a volume of 3,425,820 shares trading hands.

ProShares UltraPro S&P 500 Stock Down 1.4 %

The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 21.87 and a beta of 3.03. The stock’s fifty day moving average is $85.24 and its two-hundred day moving average is $88.99.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in ProShares UltraPro S&P 500 by 28.6% in the fourth quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock valued at $80,000 after buying an additional 200 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in ProShares UltraPro S&P 500 in the fourth quarter worth approximately $87,000. Blair William & Co. IL acquired a new position in shares of ProShares UltraPro S&P 500 during the 4th quarter valued at $135,000. Mayflower Financial Advisors LLC acquired a new position in shares of ProShares UltraPro S&P 500 during the fourth quarter valued at about $230,000. Finally, Koshinski Asset Management Inc. boosted its holdings in ProShares UltraPro S&P 500 by 8.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 2,793 shares of the company’s stock worth $248,000 after acquiring an additional 212 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.