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

ProShares Ultra Financials (NYSEARCA:UYG) saw strong trading volume on Monday . 25,475 shares changed hands during trading, an increase of 24% from the previous session’s volume of 20,594 shares.The stock last traded at $93.79 and had previously closed at $93.28.

ProShares Ultra Financials Stock Performance

The firm’s 50 day moving average price is $91.25 and its 200-day moving average price is $85.06. The firm has a market capitalization of $899.83 million, a PE ratio of 16.46 and a beta of 2.14.

Institutional Trading of ProShares Ultra Financials

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of ProShares Ultra Financials during the 4th quarter worth about $51,000. Tower Research Capital LLC TRC raised its position in shares of ProShares Ultra Financials by 52.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,837 shares of the company’s stock worth $413,000 after purchasing an additional 1,663 shares during the last quarter. WealthTrust Asset Management LLC acquired a new position in shares of ProShares Ultra Financials during the 4th quarter worth about $205,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ProShares Ultra Financials during the 4th quarter worth about $205,000. Finally, Wharton Business Group LLC acquired a new position in shares of ProShares Ultra Financials during the 4th quarter worth about $215,000.

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.