ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Here’s What Happened

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-high trading volume on Tuesday . Approximately 25,183 shares traded hands during trading, an increase of 57% from the previous session’s volume of 15,990 shares.The stock last traded at $94.6270 and had previously closed at $93.56.

ProShares Ultra Financials Stock Performance

The company has a market capitalization of $814.18 million, a price-to-earnings ratio of 17.45 and a beta of 1.76. The company has a 50 day moving average price of $82.14 and a 200 day moving average price of $83.06.

Institutional Investors Weigh In On ProShares Ultra Financials

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC acquired a new stake in ProShares Ultra Financials in the 1st quarter valued at $31,000. Main Street Group LTD bought a new position in shares of ProShares Ultra Financials in the first quarter valued at $44,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ProShares Ultra Financials during the third quarter valued at about $82,000. Flagship Harbor Advisors LLC bought a new stake in shares of ProShares Ultra Financials during the fourth quarter worth about $96,000. Finally, Arax Advisory Partners bought a new stake in shares of ProShares Ultra Financials during the fourth quarter worth about $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.