ProShares Ultra S&P500 (NYSEARCA:SSO) Stock Cross Above Two Hundred Day Moving Average – Should You Sell?

ProShares Ultra S&P500 (NYSEARCA:SSO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $88.82 and traded as high as $93.96. ProShares Ultra S&P500 shares last traded at $92.51, with a volume of 2,011,098 shares trading hands.

ProShares Ultra S&P500 Trading Down 0.8 %

The firm has a 50-day moving average of $95.34 and a 200 day moving average of $88.82.

Institutional Investors Weigh In On ProShares Ultra S&P500

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in ProShares Ultra S&P500 by 21.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,272 shares of the real estate investment trust’s stock valued at $3,271,000 after purchasing an additional 6,406 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of ProShares Ultra S&P500 in the third quarter worth $1,137,000. Invst LLC raised its holdings in ProShares Ultra S&P500 by 6.6% in the third quarter. Invst LLC now owns 32,686 shares of the real estate investment trust’s stock valued at $2,947,000 after acquiring an additional 2,015 shares in the last quarter. Discipline Wealth Solutions LLC bought a new position in ProShares Ultra S&P500 during the 3rd quarter valued at $836,000. Finally, GG Group Ventures LLC acquired a new position in ProShares Ultra S&P500 during the 3rd quarter worth $560,000.

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.