ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Sets New 12-Month High – Should You Buy?

ProShares UltraPro S&P 500 (NYSEARCA:UPRO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.67 and last traded at $96.38, with a volume of 3164845 shares trading hands. The stock had previously closed at $94.86.

ProShares UltraPro S&P 500 Trading Up 1.6 %

The firm has a fifty day simple moving average of $88.15 and a 200-day simple moving average of $80.25.

Hedge Funds Weigh In On ProShares UltraPro S&P 500

Several institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of ProShares UltraPro S&P 500 in the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new position in ProShares UltraPro S&P 500 in the third quarter valued at about $54,000. Farther Finance Advisors LLC purchased a new stake in shares of ProShares UltraPro S&P 500 during the 3rd quarter worth approximately $60,000. ORG Partners LLC acquired a new stake in shares of ProShares UltraPro S&P 500 in the 2nd quarter worth approximately $84,000. Finally, Hantz Financial Services Inc. purchased a new position in ProShares UltraPro S&P 500 in the 2nd quarter valued at approximately $93,000.

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.