ProShares Ultra Real Estate (NYSEARCA:URE) Shares Up 0.9% – Still a Buy?

Shares of ProShares Ultra Real Estate (NYSEARCA:URE) rose 0.9% on Monday . The stock traded as high as $59.90 and last traded at $59.90. Approximately 2,004 shares changed hands during trading, a decline of 42% from the average daily volume of 3,483 shares. The stock had previously closed at $59.39.

ProShares Ultra Real Estate Price Performance

The company has a market capitalization of $53.39 million, a price-to-earnings ratio of 35.25 and a beta of 2.00. The business has a 50 day simple moving average of $61.25 and a 200 day simple moving average of $62.84.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC lifted its holdings in shares of ProShares Ultra Real Estate by 132.4% during the first quarter. Simplex Trading LLC now owns 681 shares of the company’s stock worth $44,000 after purchasing an additional 388 shares during the period. Corient Private Wealth LLC raised its holdings in ProShares Ultra Real Estate by 6.9% during the second quarter. Corient Private Wealth LLC now owns 23,066 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,496 shares during the last quarter. Finally, CWM LLC purchased a new stake in shares of ProShares Ultra Real Estate in the 3rd quarter worth about $806,000.

About ProShares Ultra Real Estate

ProShares Ultra Real Estate (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments, and real estate investment trusts (REITs) that invest in apartments, office and retail properties.