Karp Capital Management Corp Decreases Stake in ProShares Ultra Financials (UYG)
Karp Capital Management Corp trimmed its stake in shares of ProShares Ultra Financials (NYSEARCA:UYG) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,433 shares of the company’s stock after selling 2,100 shares during the period. ProShares Ultra Financials makes up 1.6% of Karp Capital Management Corp’s investment portfolio, making the stock its 23rd largest holding. Karp Capital Management Corp’s holdings in ProShares Ultra Financials were worth $4,623,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PRW Wealth Management LLC purchased a new position in shares of ProShares Ultra Financials during the fourth quarter valued at approximately $35,000. Hanson McClain Inc. raised its holdings in shares of ProShares Ultra Financials by 933.9% during the fourth quarter. Hanson McClain Inc. now owns 1,861 shares of the company’s stock valued at $61,000 after purchasing an additional 1,681 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of ProShares Ultra Financials during the fourth quarter valued at approximately $144,000. Simplex Trading LLC raised its holdings in shares of ProShares Ultra Financials by 1,553.3% during the fourth quarter. Simplex Trading LLC now owns 5,522 shares of the company’s stock valued at $180,000 after purchasing an additional 5,188 shares during the last quarter. Finally, Nwam LLC purchased a new position in shares of ProShares Ultra Financials during the first quarter valued at approximately $234,000.
Shares of UYG traded down $0.08 during mid-day trading on Wednesday, hitting $42.55. 2,905 shares of the company traded hands, compared to its average volume of 83,267. ProShares Ultra Financials has a 1 year low of $28.46 and a 1 year high of $46.71.
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.
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