ProShares Ultra Financials (NYSEARCA:UYG) Sets New 1-Year High – Still a Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares hit a new 52-week high on Monday . The company traded as high as $103.10 and last traded at $103.4570, with a volume of 7462 shares trading hands. The stock had previously closed at $101.02.

ProShares Ultra Financials Stock Performance

The firm has a market capitalization of $916.47 million, a price-to-earnings ratio of 17.45 and a beta of 2.02. The business has a fifty day moving average price of $94.97 and a 200 day moving average price of $95.34.

Institutional Trading of ProShares Ultra Financials

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in ProShares Ultra Financials in the third quarter valued at approximately $709,000. Cassaday & Co Wealth Management LLC increased its position in shares of ProShares Ultra Financials by 25.2% in the second quarter. Cassaday & Co Wealth Management LLC now owns 34,801 shares of the company’s stock worth $3,325,000 after acquiring an additional 7,000 shares in the last quarter. Dimension Capital Management LLC purchased a new position in shares of ProShares Ultra Financials in the 2nd quarter valued at $478,000. Focus Partners Wealth raised its stake in shares of ProShares Ultra Financials by 20.6% in the 3rd quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after acquiring an additional 2,413 shares during the period. Finally, Summit Financial LLC acquired a new position in shares of ProShares Ultra Financials during the 1st quarter valued at $207,000.

ProShares Ultra Financials Company Profile

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.