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

ProShares Ultra Financials (NYSEARCA:UYG) saw an uptick in trading volume on Friday. Approximately 57,851 shares were traded during mid-day trading, an increase of 257% from the average daily volume of 16,207 shares. The stock last traded at $92.9890 and had previously closed at $94.67.

ProShares Ultra Financials Trading Down 1.4%

The firm has a market capitalization of $777.47 million, a price-to-earnings ratio of 17.45 and a beta of 1.78. The stock’s fifty day moving average price is $91.89 and its two-hundred day moving average price is $86.09.

Institutional Trading of ProShares Ultra Financials

Several hedge funds and other institutional investors have recently made changes to their positions in UYG. Hartford Financial Management Inc. acquired a new stake in ProShares Ultra Financials in the 3rd quarter valued at about $35,000. Western Wealth Management LLC purchased a new position in ProShares Ultra Financials during the first quarter worth $31,000. MCF Advisors LLC boosted its stake in shares of ProShares Ultra Financials by 88.7% during 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. Main Street Group LTD purchased a new stake in ProShares Ultra Financials during the 1st quarter worth about $44,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of ProShares Ultra Financials during the 2nd quarter worth 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.