ProShares Ultra Financials (NYSEARCA:UYG) Shares Gap Up – What’s Next?

ProShares Ultra Financials (NYSEARCA:UYG)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $76.83, but opened at $81.50. ProShares Ultra Financials shares last traded at $81.60, with a volume of 5,235 shares traded.

ProShares Ultra Financials Trading Up 0.6%

The stock has a market capitalization of $714.53 million, a P/E ratio of 17.45 and a beta of 1.77. The company has a fifty day simple moving average of $78.33 and a two-hundred day simple moving average of $84.49.

Institutional Trading of ProShares Ultra Financials

Several institutional investors and hedge funds have recently added to or reduced their stakes in UYG. WealthCare Asset Management LLC bought a new position in shares of ProShares Ultra Financials in the 4th quarter worth $2,740,000. Focus Partners Wealth boosted its position in shares of ProShares Ultra Financials by 71.3% in the 4th quarter. Focus Partners Wealth now owns 24,179 shares of the company’s stock worth $2,302,000 after purchasing an additional 10,063 shares during the last quarter. Quantinno Capital Management LP lifted its stake in ProShares Ultra Financials by 307.1% in the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after buying an additional 9,596 shares during the period. CIBC Bancorp USA Inc. acquired a new position in ProShares Ultra Financials in the third quarter valued at about $709,000. Finally, Independent Financial Group LLC acquired a new position in ProShares Ultra Financials in the first quarter valued at about $397,000.

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.