ProShares Ultra Financials (NYSEARCA:UYG) Trading 1.9% Higher – Still a Buy?

Shares of ProShares Ultra Financials (NYSEARCA:UYG) traded up 1.9% on Monday . The company traded as high as $75.15 and last traded at $73.44. 18,926 shares were traded during trading, an increase of 2% from the average session volume of 18,471 shares. The stock had previously closed at $72.08.

ProShares Ultra Financials Price Performance

The firm has a fifty day simple moving average of $81.84 and a 200-day simple moving average of $90.99. The firm has a market cap of $648.48 million, a P/E ratio of 17.45 and a beta of 2.02.

Institutional Trading of ProShares Ultra Financials

Several hedge funds have recently bought and sold shares of UYG. Steigerwald Gordon & Koch Inc. bought a new position in shares of ProShares Ultra Financials during the third quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. bought a new stake in ProShares Ultra Financials in the 3rd quarter worth about $82,000. Flagship Harbor Advisors LLC purchased a new stake in ProShares Ultra Financials in the 4th quarter valued at about $96,000. MAI Capital Management increased its stake 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 buying an additional 175 shares during the last quarter. Finally, Arax Advisory Partners bought a new position in shares of ProShares Ultra Financials during the 4th quarter worth approximately $192,000.

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.