On September 22, ProShares UltraPro S&P500 ETF rose 5.04% in regular trading, trading at $154.645/share, with turnover of $246 million. As a 3x leveraged ETF tracking the S&P 500 index, the move corresponds to an approximate 1.7% gain in the underlying index.

On the news front, the Federal Reserve recently delivered its first rate hike since July 2023, raising rates by 25 basis points to 3.75%–4.00%. Markets broadly interpreted the move as a case of negative catalysts being fully priced in. Meanwhile, Brent crude fell 1.6% to around $104 per barrel, easing inflation concerns and further bolstering risk appetite. Multiple Wall Street institutions have raised their S&P 500 targets, with Goldman Sachs setting a 12-month target of 8,700, Wells Fargo lifting its year-end target to 7,950, and Tallbacken projecting 8,500, citing robust earnings growth and sustained AI capital expenditure as core supports. Historical data shows the S&P 500 posted gains in all five previous rate-hike cycles, with an average return of approximately 8.8%.

The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index is a measure of large-cap U.S. stock market performance. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)