ProShares Ultra Financials (NYSEARCA:UYG) Sees Strong Trading Volume – What’s Next?

ProShares Ultra Financials (NYSEARCA:UYG) shares saw an uptick in trading volume on Tuesday . 18,557 shares were traded during trading, an increase of 9% from the previous session’s volume of 17,016 shares.The stock last traded at $93.0750 and had previously closed at $93.45.

ProShares Ultra Financials Trading Down 1.3%

The company’s 50-day moving average is $95.27 and its 200 day moving average is $95.66. The firm has a market cap of $815.01 million, a PE ratio of 17.45 and a beta of 2.02.

Institutional Trading of ProShares Ultra Financials

Several hedge funds and other institutional investors have recently modified their holdings of UYG. Steigerwald Gordon & Koch Inc. acquired a new position in ProShares Ultra Financials during the third quarter valued at $30,000. Farther Finance Advisors LLC boosted its position in ProShares Ultra Financials by 26.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 760 shares of the company’s stock worth $73,000 after acquiring an additional 160 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in ProShares Ultra Financials during the 3rd quarter valued at about $82,000. MAI Capital Management grew its stake in 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 acquiring an additional 175 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of ProShares Ultra Financials by 53.3% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $132,000 after purchasing an additional 480 shares during the period.

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.