Independent Financial Group LLC Invests $397,000 in ProShares Ultra Financials $UYG

Independent Financial Group LLC acquired a new stake in ProShares Ultra Financials (NYSEARCA:UYG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,413 shares of the company’s stock, valued at approximately $397,000. Independent Financial Group LLC owned approximately 0.06% of ProShares Ultra Financials at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in ProShares Ultra Financials during the 3rd quarter worth $82,000. Flagship Harbor Advisors LLC acquired a new stake in ProShares Ultra Financials in the 4th quarter valued at about $96,000. Arax Advisory Partners acquired a new stake in ProShares Ultra Financials in the 4th quarter valued at about $192,000. B. Riley Wealth Advisors Inc. acquired a new stake in ProShares Ultra Financials in the 2nd quarter valued at about $215,000. Finally, Lowery Thomas LLC boosted its stake in shares of ProShares Ultra Financials by 9.1% in the 4th quarter. Lowery Thomas LLC now owns 2,687 shares of the company’s stock valued at $247,000 after buying an additional 223 shares during the period.

ProShares Ultra Financials Stock Performance

UYG stock opened at $93.97 on Friday. The company’s 50 day moving average price is $85.95 and its 200 day moving average price is $82.80. ProShares Ultra Financials has a fifty-two week low of $68.43 and a fifty-two week high of $104.32. The firm has a market capitalization of $810.96 million, a price-to-earnings ratio of 17.45 and a beta of 1.76.

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.