ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – What’s Next?

ProShares Ultra Financials (NYSEARCA:UYG) shares saw an uptick in trading volume on Tuesday . 28,937 shares were traded during trading, an increase of 128% from the previous session’s volume of 12,714 shares.The stock last traded at $90.6210 and had previously closed at $93.02.

ProShares Ultra Financials Stock Performance

The business’s 50-day moving average is $95.33 and its two-hundred day moving average is $95.96. The firm has a market capitalization of $794.69 million, a price-to-earnings ratio of 17.45 and a beta of 2.02.

Hedge Funds Weigh In On ProShares Ultra Financials

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