ProShares Ultra Financials (NYSEARCA:UYG) Shares Gap Down – Here’s What Happened

ProShares Ultra Financials (NYSEARCA:UYG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $104.01, but opened at $94.45. ProShares Ultra Financials shares last traded at $94.56, with a volume of 4,543 shares trading hands.

ProShares Ultra Financials Stock Down 8.8%

The business’s fifty day moving average price is $95.29 and its 200 day moving average price is $95.53. The firm has a market capitalization of $842.44 million, a PE ratio of 17.45 and a beta of 2.02.

Hedge Funds Weigh In On ProShares Ultra Financials

Several institutional investors have recently added to or reduced their stakes in UYG. Steigerwald Gordon & Koch Inc. purchased a new stake in ProShares Ultra Financials in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of ProShares Ultra Financials by 26.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 760 shares of the company’s stock worth $73,000 after acquiring an additional 160 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ProShares Ultra Financials in the third quarter worth approximately $82,000. MAI Capital Management grew its holdings in ProShares Ultra Financials by 19.9% in the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares during the period. Finally, CWM LLC grew its holdings in ProShares Ultra Financials by 53.3% in the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $132,000 after purchasing an additional 480 shares during the period.

ProShares Ultra Financials Company Profile

ProShares Ultra Financials (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Financials Index. The Dow Jones U.S. Financials Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States domiciled international banks; full line, life, and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies, such as credit card issuers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers including investment banks, merchant banks and online brokers; and publicly traded stock exchanges.