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

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-strong trading volume on Friday . Approximately 22,892 shares changed hands during trading, an increase of 38% from the previous session’s volume of 16,590 shares.The stock last traded at $96.17 and had previously closed at $94.83.

ProShares Ultra Financials Stock Up 0.9%

The business has a fifty day simple moving average of $96.29 and a two-hundred day simple moving average of $85.23. The company has a market capitalization of $828.55 million, a price-to-earnings ratio of 17.45 and a beta of 1.74.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new position in ProShares Ultra Financials in the first quarter valued at $31,000. MCF Advisors LLC grew its holdings in shares of ProShares Ultra Financials by 88.7% in the second quarter. MCF Advisors LLC now owns 566 shares of the company’s stock worth $48,000 after purchasing an additional 266 shares during the last quarter. Main Street Group LTD purchased a new stake in ProShares Ultra Financials during the 1st quarter valued at $44,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Financials during the 3rd quarter valued at about $82,000. Finally, Ameritas Advisory Services LLC purchased a new position in ProShares Ultra Financials during the second quarter valued at $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.