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

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-strong trading volume on Thursday . Approximately 15,923 shares were traded during trading, a decline of 11% from the previous session’s volume of 17,839 shares.The stock last traded at $97.0790 and had previously closed at $95.76.

ProShares Ultra Financials Stock Down 1.8%

The business’s 50 day simple moving average is $96.33 and its 200 day simple moving average is $94.01. The company has a market capitalization of $826.64 million, a PE ratio of 17.45 and a beta of 2.02.

Hedge Funds Weigh In On ProShares Ultra Financials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in ProShares Ultra Financials by 16.0% during the 3rd quarter. Creative Planning now owns 4,296 shares of the company’s stock valued at $426,000 after purchasing an additional 593 shares during the period. MAI Capital Management grew its holdings 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 buying an additional 175 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in ProShares Ultra Financials during the third quarter valued at $30,000. Regent Peak Wealth Advisors LLC acquired a new position in ProShares Ultra Financials during the third quarter valued at $224,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in ProShares Ultra Financials in the 2nd quarter worth about $215,000.

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.