ProShares Ultra S&P500 $SSO Shares Purchased by Richmond Brothers Inc.

Richmond Brothers Inc. boosted its position in ProShares Ultra S&P500 (NYSEARCA:SSO) by 409.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,941 shares of the real estate investment trust’s stock after purchasing an additional 28,887 shares during the period. ProShares Ultra S&P500 comprises approximately 1.3% of Richmond Brothers Inc.’s holdings, making the stock its 21st largest position. Richmond Brothers Inc.’s holdings in ProShares Ultra S&P500 were worth $2,082,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in ProShares Ultra S&P500 in the third quarter valued at about $47,000. Evolution Wealth Management Inc. lifted its position in ProShares Ultra S&P500 by 100.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 315 shares during the period. Sunbelt Securities Inc. lifted its position in ProShares Ultra S&P500 by 153.2% in the third quarter. Sunbelt Securities Inc. now owns 704 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 426 shares during the period. Financial Life Planners acquired a new stake in ProShares Ultra S&P500 in the third quarter valued at about $82,000. Finally, Tucker Asset Management LLC acquired a new stake in ProShares Ultra S&P500 in the fourth quarter valued at about $49,000.

ProShares Ultra S&P500 Stock Up 3.4%

Shares of NYSEARCA:SSO opened at $65.83 on Friday. The company has a market cap of $7.61 billion, a P/E ratio of 24.25 and a beta of 2.01. ProShares Ultra S&P500 has a 52 week low of $44.99 and a 52 week high of $70.13. The company has a 50-day moving average price of $63.30 and a 200 day moving average price of $59.53.

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.