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

ProShares Ultra S&P500 (NYSEARCA:SSO) shares saw unusually-high trading volume on Monday . Approximately 5,124,188 shares were traded during mid-day trading, an increase of 111% from the previous session’s volume of 2,429,576 shares.The stock last traded at $95.92 and had previously closed at $95.92.

ProShares Ultra S&P500 Stock Down 0.9 %

The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 26.71 and a beta of 2.04. The stock’s 50 day moving average is $96.08 and its 200 day moving average is $92.37.

Institutional Investors Weigh In On ProShares Ultra S&P500

A number of institutional investors and hedge funds have recently modified their holdings of SSO. Pinkerton Retirement Specialists LLC raised its position in ProShares Ultra S&P500 by 5,312.9% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 142,358 shares of the real estate investment trust’s stock valued at $13,170,000 after buying an additional 139,728 shares during the period. Main Street Group LTD increased its holdings in shares of ProShares Ultra S&P500 by 4.4% in the 4th quarter. Main Street Group LTD now owns 539,510 shares of the real estate investment trust’s stock valued at $49,910,000 after purchasing an additional 22,830 shares during the period. Global Assets Advisory LLC lifted its position in shares of ProShares Ultra S&P500 by 11.1% in the fourth quarter. Global Assets Advisory LLC now owns 23,312 shares of the real estate investment trust’s stock worth $2,145,000 after purchasing an additional 2,329 shares in the last quarter. Forefront Analytics LLC acquired a new stake in shares of ProShares Ultra S&P500 during the fourth quarter worth approximately $374,000. Finally, Clark Capital Management Group Inc. purchased a new position in ProShares Ultra S&P500 during the fourth quarter valued at approximately $353,000.

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.