ProShares Ultra Financials (NYSEARCA:UYG) Trading Up 1.9% – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares shot up 1.9% on Monday . The stock traded as high as $75.15 and last traded at $73.44. 18,926 shares were traded during trading, an increase of 2% from the average session volume of 18,471 shares. The stock had previously closed at $72.08.

ProShares Ultra Financials Stock Performance

The stock’s 50 day moving average is $81.20 and its two-hundred day moving average is $90.71. The stock has a market capitalization of $648.39 million, a PE ratio of 17.45 and a beta of 2.02.

ProShares Ultra Financials Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be paid a dividend of $0.2048 per share. This represents a $0.82 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, March 25th.

Institutional Investors Weigh In On ProShares Ultra Financials

A number of hedge funds have recently modified their holdings of UYG. Wealthspire Advisors LLC raised its position in shares of ProShares Ultra Financials by 399,100.0% during the 4th quarter. Wealthspire Advisors LLC now owns 3,992 shares of the company’s stock valued at $366,000 after buying an additional 3,991 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in ProShares Ultra Financials in the second quarter valued at approximately $215,000. Arax Advisory Partners purchased a new position in ProShares Ultra Financials in the fourth quarter worth approximately $192,000. WealthCare Asset Management LLC purchased a new position in ProShares Ultra Financials in the fourth quarter worth approximately $2,740,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in ProShares Ultra Financials during the fourth quarter worth $351,000.

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.