ProShares Ultra Financials (NYSEARCA:UYG) Trading 1.9% Higher – Here’s Why

Shares of ProShares Ultra Financials (NYSEARCA:UYG) traded up 1.9% during mid-day trading on Monday . The stock traded as high as $75.15 and last traded at $73.44. 18,926 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 18,471 shares. The stock had previously closed at $72.08.

ProShares Ultra Financials Stock Up 1.9%

The stock has a 50-day moving average of $81.84 and a 200 day moving average of $90.99. The company has a market capitalization of $648.48 million, a PE ratio of 17.45 and a beta of 2.02.

Institutional Investors Weigh In On ProShares Ultra Financials

A number of hedge funds have recently made changes to their positions in UYG. Steigerwald Gordon & Koch Inc. bought a new stake in ProShares Ultra Financials in the 3rd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. bought a new position in ProShares Ultra Financials during the third quarter worth about $82,000. Flagship Harbor Advisors LLC purchased a new position in shares of ProShares Ultra Financials in the fourth quarter worth about $96,000. MAI Capital Management raised its position in shares of ProShares Ultra Financials by 19.9% in the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares during the period. Finally, Arax Advisory Partners bought a new stake in shares of ProShares Ultra Financials in the fourth quarter valued at approximately $192,000.

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.