ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Sees Strong Trading Volume – Time to Buy?

Shares of ProShares UltraPro S&P 500 (NYSEARCA:UPRO) saw strong trading volume on Friday . 5,014,956 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 5,159,375 shares.The stock last traded at $85.85 and had previously closed at $89.84.

ProShares UltraPro S&P 500 Stock Performance

The stock has a 50-day simple moving average of $93.52 and a two-hundred day simple moving average of $85.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UPRO. Innova Wealth Partners bought a new stake in shares of ProShares UltraPro S&P 500 in the 4th quarter worth approximately $362,000. JPMorgan Chase & Co. raised its stake in ProShares UltraPro S&P 500 by 103.3% in the third quarter. JPMorgan Chase & Co. now owns 33,799 shares of the company’s stock worth $2,913,000 after buying an additional 17,170 shares in the last quarter. Discipline Wealth Solutions LLC purchased a new stake in ProShares UltraPro S&P 500 in the third quarter worth about $429,000. Legacy Investment Solutions LLC bought a new stake in ProShares UltraPro S&P 500 during the 3rd quarter valued at approximately $340,000. Finally, Quadrature Capital Ltd purchased a new position in shares of ProShares UltraPro S&P 500 during the 3rd quarter worth approximately $15,552,000.

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.