ProShares Ultra Financials (NYSEARCA:UYG) Sees Strong Trading Volume – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-high trading volume on Wednesday . Approximately 10,785 shares were traded during mid-day trading, a decline of 38% from the previous session’s volume of 17,389 shares.The stock last traded at $80.7040 and had previously closed at $80.33.

ProShares Ultra Financials Price Performance

The company’s 50-day moving average is $77.78 and its 200-day moving average is $88.31. The firm has a market capitalization of $716.13 million, a price-to-earnings ratio of 17.45 and a beta of 1.89.

ProShares Ultra Financials Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were given a $0.2048 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.82 annualized dividend and a dividend yield of 1.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parisi Gray Wealth Management raised its stake in shares of ProShares Ultra Financials by 8.7% during the fourth quarter. Parisi Gray Wealth Management now owns 2,462 shares of the company’s stock valued at $226,000 after purchasing an additional 198 shares during the period. Lowery Thomas LLC raised its stake in shares of ProShares Ultra Financials by 9.1% during the fourth quarter. Lowery Thomas LLC now owns 2,687 shares of the company’s stock valued at $247,000 after purchasing an additional 223 shares during the period. Bryn Mawr Trust Advisors LLC raised its stake in shares of ProShares Ultra Financials by 4.2% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 4,940 shares of the company’s stock valued at $453,000 after purchasing an additional 199 shares during the period. Focus Partners Wealth raised its stake in shares of ProShares Ultra Financials by 20.6% during the third quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after purchasing an additional 2,413 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of ProShares Ultra Financials during the third quarter valued at approximately $709,000.

About ProShares Ultra Financials

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.