ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Shares Down 16.7% – Should You Sell?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) traded down 16.7% on Thursday . The company traded as low as $54.81 and last traded at $54.02. 7,621,568 shares were traded during trading, an increase of 54% from the average session volume of 4,934,013 shares. The stock had previously closed at $64.81.

ProShares UltraPro S&P 500 Price Performance

The firm’s fifty day moving average is $80.06 and its 200-day moving average is $87.61. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 21.87 and a beta of 3.03.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

Several institutional investors have recently added to or reduced their stakes in UPRO. Variant Private Wealth LLC acquired a new position in ProShares UltraPro S&P 500 during the 4th quarter worth approximately $6,025,000. Simplex Trading LLC bought a new stake in shares of ProShares UltraPro S&P 500 during the fourth quarter valued at approximately $5,485,000. JPMorgan Chase & Co. lifted its holdings in shares of ProShares UltraPro S&P 500 by 103.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,799 shares of the company’s stock worth $2,913,000 after purchasing an additional 17,170 shares in the last quarter. Safe Harbor Fiduciary LLC lifted its holdings in shares of ProShares UltraPro S&P 500 by 22,698.0% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 11,399 shares of the company’s stock worth $1,010,000 after purchasing an additional 11,349 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in ProShares UltraPro S&P 500 during the 4th quarter valued at $922,000.

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.