ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Reaches New 12-Month Low – Time to Sell?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $57.58 and last traded at $57.12, with a volume of 4098653 shares. The stock had previously closed at $65.13.

ProShares UltraPro S&P 500 Stock Performance

The stock’s 50 day simple moving average is $86.12 and its 200 day simple moving average is $89.07. The firm has a market cap of $2.65 billion, a P/E ratio of 21.87 and a beta of 3.03.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

Several large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new stake in shares of ProShares UltraPro S&P 500 in the third quarter valued at $15,552,000. Variant Private Wealth LLC purchased a new stake in shares of ProShares UltraPro S&P 500 during the fourth quarter worth $6,025,000. Simplex Trading LLC bought a new position in shares of ProShares UltraPro S&P 500 in the fourth quarter worth $5,485,000. Main Street Group LTD grew its position in shares of ProShares UltraPro S&P 500 by 0.7% in the fourth quarter. Main Street Group LTD now owns 43,274 shares of the company’s stock valued at $3,836,000 after purchasing an additional 284 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ProShares UltraPro S&P 500 by 24.1% during the 4th quarter. JPMorgan Chase & Co. now owns 41,932 shares of the company’s stock valued at $3,717,000 after purchasing an additional 8,133 shares during the period.

ProShares UltraPro S&P 500 Company Profile

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.