ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) saw strong trading volume on Monday . 27,572 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 17,390 shares.The stock last traded at $74.70 and had previously closed at $73.62.

ProShares Ultra Financials Stock Performance

The firm has a market capitalization of $657.37 million, a price-to-earnings ratio of 17.45 and a beta of 2.02. The stock’s fifty day moving average is $78.99 and its two-hundred day moving average is $89.37.

ProShares Ultra Financials Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.2048 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.82 annualized dividend and a dividend yield of 1.1%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Dimension Capital Management LLC acquired a new stake in ProShares Ultra Financials during the 2nd quarter valued at approximately $478,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $224,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of ProShares Ultra Financials in the 3rd quarter valued at approximately $30,000. MAI Capital Management boosted its stake in shares of ProShares Ultra Financials by 19.9% during 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, Flagship Harbor Advisors LLC purchased a new position in shares of ProShares Ultra Financials during the 4th quarter valued at approximately $96,000.

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.