ProShares Ultra Financials (NYSEARCA:UYG) Trading 2.4% Higher – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG)’s share price traded up 2.4% during trading on Monday . The stock traded as high as $79.83 and last traded at $79.82. 17,960 shares were traded during trading, an increase of 11% from the average session volume of 16,231 shares. The stock had previously closed at $77.94.

ProShares Ultra Financials Price Performance

The stock has a market capitalization of $697.31 million, a price-to-earnings ratio of 17.45 and a beta of 1.81. The firm has a 50 day simple moving average of $76.92 and a 200-day simple moving average of $85.64.

Hedge Funds Weigh In On ProShares Ultra Financials

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in ProShares Ultra Financials by 2.1% during the 2nd quarter. Bank of America Corp DE now owns 6,146 shares of the company’s stock valued at $587,000 after purchasing an additional 126 shares in the last quarter. United Advisor Group LLC increased its holdings in ProShares Ultra Financials by 4.3% during the 4th quarter. United Advisor Group LLC now owns 3,134 shares of the company’s stock valued at $288,000 after purchasing an additional 129 shares in the last quarter. MAI Capital Management increased its holdings in ProShares Ultra Financials by 19.9% during the 3rd quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares in the last quarter. Parisi Gray Wealth Management increased its holdings in ProShares Ultra Financials by 8.7% during the 4th quarter. Parisi Gray Wealth Management now owns 2,462 shares of the company’s stock valued at $226,000 after purchasing an additional 198 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its holdings in ProShares Ultra Financials by 4.2% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 4,940 shares of the company’s stock valued at $453,000 after purchasing an additional 199 shares in the last quarter.

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.