ProShares Ultra S&P500 (NYSEARCA:SSO) Hits New 12-Month Low – Here’s What Happened

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

ProShares Ultra S&P500 Price Performance

The firm has a market capitalization of $3.90 billion, a P/E ratio of 22.95 and a beta of 2.06. The firm’s fifty day moving average price is $90.53 and its 200-day moving average price is $92.66.

ProShares Ultra S&P500 Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of ProShares Ultra S&P500 during the 3rd quarter valued at $48,000. Compass Planning Associates Inc purchased a new stake in shares of ProShares Ultra S&P500 during the fourth quarter valued at $56,000. Johnson Financial Group Inc. increased its stake in ProShares Ultra S&P500 by 92.1% in the 4th quarter. Johnson Financial Group Inc. now owns 680 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 326 shares in the last quarter. Abound Wealth Management increased its stake in ProShares Ultra S&P500 by 46.7% in 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 in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new stake in ProShares Ultra S&P500 during the 4th quarter worth about $123,000.

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.