ProShares Ultra Financials (NYSEARCA:UYG) Reaches New 52-Week High – Here’s Why

Shares of ProShares Ultra Financials (NYSEARCA:UYG) hit a new 52-week high during trading on Thursday . The company traded as high as $98.01 and last traded at $97.71, with a volume of 8149 shares traded. The stock had previously closed at $95.54.

ProShares Ultra Financials Price Performance

The stock’s 50-day moving average is $89.93 and its 200 day moving average is $81.31.

Institutional Trading of ProShares Ultra Financials

A number of hedge funds have recently added to or reduced their stakes in UYG. Strategic Investment Solutions Inc. IL acquired a new stake in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $92,000. Creative Planning purchased a new stake in shares of ProShares Ultra Financials during the 3rd quarter worth $200,000. Parisi Gray Wealth Management acquired a new position in shares of ProShares Ultra Financials during the 3rd quarter worth $207,000. Great Valley Advisor Group Inc. purchased a new position in shares of ProShares Ultra Financials in the 3rd quarter valued at about $212,000. Finally, James J. Burns & Company LLC acquired a new stake in shares of ProShares Ultra Financials in the third quarter valued at about $218,000.

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.