ProShares Ultra Financials (NYSEARCA:UYG – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $104.50 and last traded at $102.3590, with a volume of 2,816 shares trading hands. The stock had previously closed at $101.94.
ProShares Ultra Financials Trading Down 4.1%
The stock has a market capitalization of $812.46 million, a PE ratio of 17.45 and a beta of 1.75. The firm has a 50-day moving average price of $91.78 and a 200-day moving average price of $86.21.
Hedge Funds Weigh In On ProShares Ultra Financials
Several institutional investors have recently added to or reduced their stakes in UYG. Western Wealth Management LLC purchased a new stake in ProShares Ultra Financials during the first quarter worth about $31,000. Hartford Financial Management Inc. bought a new stake in ProShares Ultra Financials in the third quarter worth about $35,000. Main Street Group LTD purchased a new position in ProShares Ultra Financials in the first quarter valued at about $44,000. MCF Advisors LLC boosted its stake in ProShares Ultra Financials by 88.7% in the second quarter. MCF Advisors LLC now owns 566 shares of the company’s stock valued at $48,000 after acquiring an additional 266 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in ProShares Ultra Financials in the second quarter valued at about $158,000.
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.
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