Independent Financial Group LLC Takes $8.88 Million Position in ProShares Ultra S&P500 $SSO

Independent Financial Group LLC bought a new stake in ProShares Ultra S&P500 (NYSEARCA:SSO) in the 1st quarter, HoldingsChannel.com reports. The firm bought 171,199 shares of the real estate investment trust’s stock, valued at approximately $8,882,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in ProShares Ultra S&P500 during the first quarter worth $549,000. NewEdge Advisors LLC increased its holdings in ProShares Ultra S&P500 by 199.8% in the first quarter. NewEdge Advisors LLC now owns 14,390 shares of the real estate investment trust’s stock valued at $1,191,000 after buying an additional 9,590 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in ProShares Ultra S&P500 in the first quarter valued at $41,524,000. Ausdal Financial Partners Inc. acquired a new position in shares of ProShares Ultra S&P500 in the second quarter worth about $908,000. Finally, Bank of America Corp DE raised its position in shares of ProShares Ultra S&P500 by 519.0% in the second quarter. Bank of America Corp DE now owns 22,283 shares of the real estate investment trust’s stock worth $2,177,000 after acquiring an additional 18,683 shares during the period.

ProShares Ultra S&P500 Stock Down 1.0%

SSO stock opened at $67.95 on Friday. ProShares Ultra S&P500 has a 52-week low of $48.63 and a 52-week high of $70.13. The firm has a market cap of $8.00 billion, a P/E ratio of 24.25 and a beta of 2.01. The company’s 50-day simple moving average is $67.22 and its 200-day simple moving average is $61.13.

ProShares Ultra S&P500 Profile

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. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.