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

ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-high trading volume on Friday . 22,892 shares traded hands during mid-day 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 Performance

The company’s fifty day moving average price is $96.29 and its 200-day moving average price is $85.23. The stock has a market cap of $828.55 million, a P/E ratio of 17.45 and a beta of 1.74.

Institutional Trading of ProShares Ultra Financials

A number of hedge funds have recently modified their holdings of UYG. Western Wealth Management LLC purchased a new stake in shares of ProShares Ultra Financials in the first quarter valued at approximately $31,000. MCF Advisors LLC increased its position in ProShares Ultra Financials by 88.7% during the 2nd quarter. MCF Advisors LLC now owns 566 shares of the company’s stock worth $48,000 after purchasing an additional 266 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of ProShares Ultra Financials during the first quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ProShares Ultra Financials during the third quarter valued at about $82,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of ProShares Ultra Financials during the 2nd quarter valued at approximately $158,000.

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.