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

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-high trading volume on Monday . Approximately 15,053 shares changed hands during trading, a decline of 2% from the previous session’s volume of 15,436 shares.The stock last traded at $86.0690 and had previously closed at $84.34.

ProShares Ultra Financials Price Performance

The firm has a market capitalization of $750.69 million, a P/E ratio of 17.45 and a beta of 1.77. The business’s 50-day moving average is $79.50 and its 200 day moving average is $84.16.

Institutional Investors Weigh In On ProShares Ultra Financials

A number of hedge funds have recently made changes to their positions in UYG. WealthCare Asset Management LLC acquired a new stake in shares of ProShares Ultra Financials in the 4th quarter valued at approximately $2,740,000. Focus Partners Wealth boosted its stake 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 valued at $2,302,000 after purchasing an additional 10,063 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of ProShares Ultra Financials by 307.1% in the 1st quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after purchasing an additional 9,596 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $709,000. Finally, Independent Financial Group LLC acquired a new stake in shares of ProShares Ultra Financials in the 1st quarter valued at approximately $397,000.

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.