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

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-high trading volume on Tuesday . Approximately 28,937 shares traded hands during mid-day trading, an increase of 128% from the previous session’s volume of 12,714 shares.The stock last traded at $90.6210 and had previously closed at $93.02.

ProShares Ultra Financials Stock Up 0.8%

The business has a 50-day simple moving average of $95.11 and a two-hundred day simple moving average of $95.84. The stock has a market capitalization of $794.70 million, a P/E ratio of 17.45 and a beta of 2.02.

Hedge Funds Weigh In On ProShares Ultra Financials

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of ProShares Ultra Financials by 2.1% in the 2nd quarter. Bank of America Corp DE now owns 6,146 shares of the company’s stock worth $587,000 after acquiring an additional 126 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in ProShares Ultra Financials by 26.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 760 shares of the company’s stock valued at $73,000 after purchasing an additional 160 shares in the last quarter. MAI Capital Management raised its position in ProShares Ultra Financials by 19.9% in the 3rd quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares during the last quarter. Parisi Gray Wealth Management boosted its stake in ProShares Ultra Financials by 8.7% in the fourth quarter. Parisi Gray Wealth Management now owns 2,462 shares of the company’s stock worth $226,000 after purchasing an additional 198 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in ProShares Ultra Financials in the third quarter worth $30,000.

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.