ProShares Ultra Financials (NYSEARCA:UYG) Sets New 1-Year High – What’s Next?

ProShares Ultra Financials (NYSEARCA:UYG) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $104.50 and last traded at $102.3590, with a volume of 2,816 shares. The stock had previously closed at $101.94.

ProShares Ultra Financials Stock Performance

The company’s 50 day moving average price is $91.78 and its 200-day moving average price is $86.21. The stock has a market cap of $812.46 million, a P/E ratio of 17.45 and a beta of 1.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UYG. Cassaday & Co Wealth Management LLC lifted its position in shares of ProShares Ultra Financials by 14.4% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 39,801 shares of the company’s stock worth $2,922,000 after buying an additional 5,000 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of ProShares Ultra Financials in the 3rd quarter worth approximately $2,363,000. Corient Private Wealth LP bought a new position in shares of ProShares Ultra Financials in the second quarter valued at approximately $2,011,000. Quantinno Capital Management LP grew its holdings in shares of ProShares Ultra Financials by 307.1% in the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after acquiring an additional 9,596 shares in the last quarter. Finally, Independent Financial Group LLC bought a new position in shares of ProShares Ultra Financials in the first quarter valued at approximately $397,000.

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.