ProShares Ultra S&P500 (NYSEARCA:SSO) Sets New 52-Week Low – What’s Next?

ProShares Ultra S&P500 (NYSEARCA:SSO) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $68.42 and last traded at $71.02, with a volume of 3567892 shares trading hands. The stock had previously closed at $76.30.

ProShares Ultra S&P500 Stock Down 11.3 %

The company has a market capitalization of $3.92 billion, a P/E ratio of 22.95 and a beta of 2.06. The company has a 50-day moving average of $91.16 and a two-hundred day moving average of $92.75.

ProShares Ultra S&P500 Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a $0.1656 dividend. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of ProShares Ultra S&P500 in the third quarter worth about $48,000. Compass Planning Associates Inc bought a new position in shares of ProShares Ultra S&P500 in the fourth quarter worth about $56,000. Johnson Financial Group Inc. lifted its holdings in ProShares Ultra S&P500 by 92.1% during the fourth quarter. Johnson Financial Group Inc. now owns 680 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 326 shares during the period. Abound Wealth Management lifted its stake in shares of ProShares Ultra S&P500 by 46.7% during the 4th quarter. Abound Wealth Management now owns 782 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 249 shares during the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in ProShares Ultra S&P500 during the fourth quarter valued at about $123,000.

ProShares Ultra S&P500 Company Profile

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.