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Asset Summary

Daily Performance Report for UPRO ETF: Dec 9, 2024

Summary: The day started with UPRO ETF opening at $99.69 and closing at $97.7. The ETF showed weakness throughout the day, with the highest price observed at $99.83 and the lowest at $97.56. The underlying asset had a trading range of $2.27 Overall, it was a negative trading day for UPRO ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-1.99 or -2.00% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for UPRO ETF was 3,267,597 units during Dec 9, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $99.69.

Highest Price: The highest price observed during the day was $99.83.

Lowest Price: The lowest price observed during the day was $97.56.

Closing Price: The day ended at $97.7.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

UPRO aims to deliver three times the daily return of the S&P 500 Index. Over short periods, the ETF typically achieves this goal. However, due to daily rebalancing and the effects of compounding, the long-term performance of UPRO may deviate significantly from three times the cumulative return of the S&P 500 Index.

Similar ETFs to UPRO include ProShares Ultra S&P 500 ETF (SSO), which seeks to provide twice (2x) the daily return of the S&P 500 Index, and Direxion Daily S&P 500 Bull 3x Shares (SPXL), which also aims to deliver three times (3x) the daily performance of the S&P 500 Index.

Risks associated with UPRO include leverage risk, market risk, and tracking error. The use of leverage can magnify both gains and losses, leading to increased volatility. Daily rebalancing and compounding effects can result in performance deviations from the intended 3x return over longer periods.

Investors can purchase shares of UPRO through a brokerage account, similar to other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "UPRO."

Factors affecting UPRO’s performance include market conditions, the performance of the S&P 500 Index, and the impact of leverage and daily rebalancing. Volatility and compounding effects can lead to performance deviations from the intended 3x return over time.

The historical performance of UPRO reflects its goal to provide three times the daily return of the S&P 500 Index. While it can achieve this objective over short periods, the long-term performance may vary due to the effects of leverage, daily rebalancing, and compounding.

UPRO rebalances its portfolio daily to maintain its 3x leverage ratio relative to the S&P 500 Index. This frequent rebalancing is necessary to achieve the fund’s objective of providing three times the daily return.

Key performance metrics for UPRO include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio is the annual fee charged for managing the fund, total return measures overall performance including dividends, and tracking error shows how closely UPRO tracks its leveraged performance objective.

As of the latest update, UPRO has an expense ratio of approximately 0.92%. This fee covers the costs associated with managing the fund, including the cost of maintaining leverage.

UPRO is managed by ProShares. The fund uses leverage to seek to achieve three times the daily performance of the S&P 500 Index. This involves using financial derivatives such as futures contracts and swaps to achieve the leveraged exposure. The ETF is rebalanced daily to maintain the 3x leverage ratio.

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