The ProShares Ultra S&P500 (SSO) has experienced a notable increase in shares outstanding, signaling strong investor demand. This trend suggests increased buying pressure for the underlying large-cap components of the index.
- SSO trading at $59.75, approaching 52-week high of $60.37
- Notable increase in shares outstanding indicates strong capital inflows
- ETF unit creation necessitates the purchase of underlying S&P 500 assets
- Mega-cap tech stocks like Meta and Alphabet are primary beneficiaries of these flows
- Current price action remains significantly above the 52-week low of $33.47
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