ProShares Ultra Financials (NYSEARCA:UYG) Shares Gap Down – Here’s What Happened

ProShares Ultra Financials (NYSEARCA:UYG)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $93.02, but opened at $88.75. ProShares Ultra Financials shares last traded at $88.4140, with a volume of 2,020 shares traded.

ProShares Ultra Financials Price Performance

The company has a market capitalization of $795.14 million, a price-to-earnings ratio of 17.45 and a beta of 2.02. The stock’s fifty day simple moving average is $95.11 and its two-hundred day simple moving average is $95.84.

Hedge Funds Weigh In On ProShares Ultra Financials

A number of large investors have recently bought and sold shares of UYG. Parisi Gray Wealth Management boosted its stake in ProShares Ultra Financials by 8.7% in the fourth quarter. Parisi Gray Wealth Management now owns 2,462 shares of the company’s stock valued at $226,000 after acquiring an additional 198 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of ProShares Ultra Financials in the 3rd quarter worth approximately $709,000. Northwestern Mutual Wealth Management Co. acquired a new position in ProShares Ultra Financials during the 3rd quarter valued at approximately $82,000. Focus Partners Wealth grew its stake in ProShares Ultra Financials by 20.6% during the 3rd quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock worth $1,401,000 after buying an additional 2,413 shares during the last quarter. Finally, Creative Planning increased its position in ProShares Ultra Financials by 16.0% in the third quarter. Creative Planning now owns 4,296 shares of the company’s stock worth $426,000 after buying an additional 593 shares during the period.

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.