ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-high trading volume on Tuesday . Approximately 23,245 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 16,478 shares.The stock last traded at $99.0610 and had previously closed at $97.12.

ProShares Ultra Financials Stock Up 1.9%

The stock has a market capitalization of $857.44 million, a PE ratio of 17.45 and a beta of 1.76. The stock has a fifty day moving average of $87.96 and a 200-day moving average of $82.81.

Institutional Trading of ProShares Ultra Financials

A number of hedge funds and other institutional investors have recently bought and sold shares of UYG. Cassaday & Co Wealth Management LLC lifted its position in ProShares Ultra Financials by 14.4% in the first quarter. Cassaday & Co Wealth Management LLC now owns 39,801 shares of the company’s stock valued at $2,922,000 after acquiring an additional 5,000 shares during the last quarter. WealthCare Asset Management LLC purchased a new position in shares of ProShares Ultra Financials during the 4th quarter worth approximately $2,740,000. Focus Partners Wealth lifted its holdings in ProShares Ultra Financials by 71.3% in the fourth quarter. Focus Partners Wealth now owns 24,179 shares of the company’s stock valued at $2,302,000 after acquiring an additional 10,063 shares during the period. Quantinno Capital Management LP boosted its holdings in ProShares Ultra Financials by 307.1% during the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock worth $934,000 after buying an additional 9,596 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of ProShares Ultra Financials by 10.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 9,811 shares of the company’s stock worth $839,000 after acquiring an additional 945 shares during the period.

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.