ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-high trading volume on Thursday . Approximately 15,923 shares were traded during trading, a decline of 11% from the previous session’s volume of 17,839 shares.The stock last traded at $97.0790 and had previously closed at $95.76.

ProShares Ultra Financials Stock Performance

The company has a 50 day moving average of $96.51 and a 200 day moving average of $93.93. The stock has a market capitalization of $856.17 million, a price-to-earnings ratio of 17.45 and a beta of 2.02.

Hedge Funds Weigh In On ProShares Ultra Financials

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in ProShares Ultra Financials by 26.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 760 shares of the company’s stock worth $73,000 after purchasing an additional 160 shares in the last quarter. US Bancorp DE lifted its position in ProShares Ultra Financials by 60.0% during the first quarter. US Bancorp DE now owns 480 shares of the company’s stock worth $43,000 after buying an additional 180 shares in the last quarter. Allworth Financial LP purchased a new position in ProShares Ultra Financials during the first quarter worth approximately $34,000. Freedom Investment Management Inc. boosted its stake in ProShares Ultra Financials by 8.6% during the first quarter. Freedom Investment Management Inc. now owns 7,778 shares of the company’s stock worth $693,000 after buying an additional 614 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its stake in shares of ProShares Ultra Financials by 25.2% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 34,801 shares of the company’s stock worth $3,325,000 after acquiring an additional 7,000 shares during the last quarter.

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.