ProShares Ultra Financials (NYSEARCA:UYG) Shares Gap Down – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $93.02, but opened at $88.75. ProShares Ultra Financials shares last traded at $88.4140, with a volume of 2,020 shares traded.

ProShares Ultra Financials Stock Down 1.9%

The firm has a market capitalization of $776.38 million, a P/E ratio of 17.45 and a beta of 2.02. The business’s 50-day simple moving average is $95.26 and its 200 day simple moving average is $95.93.

Institutional Trading of ProShares Ultra Financials

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Steigerwald Gordon & Koch Inc. purchased a new position in shares of ProShares Ultra Financials in the third quarter worth $30,000. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 160 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of ProShares Ultra Financials in the third quarter valued at about $82,000. MAI Capital Management raised its stake 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 valued at $105,000 after acquiring an additional 175 shares during the last quarter. Finally, CWM LLC raised its stake in shares of ProShares Ultra Financials by 53.3% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $132,000 after acquiring an additional 480 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.