ProShares Ultra Financials (NYSEARCA:UYG) Reaches New 52-Week High – Time to Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares reached a new 52-week high on Friday . The company traded as high as $102.25 and last traded at $101.34, with a volume of 7445 shares trading hands. The stock had previously closed at $101.20.

ProShares Ultra Financials Stock Down 0.1%

The firm has a market capitalization of $897.89 million, a price-to-earnings ratio of 17.45 and a beta of 2.02. The company has a 50-day moving average price of $94.53 and a 200-day moving average price of $94.80.

Institutional Trading of ProShares Ultra Financials

Several institutional investors have recently modified their holdings of UYG. CIBC Bancorp USA Inc. acquired a new position in ProShares Ultra Financials during the third quarter worth about $709,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ProShares Ultra Financials in the 3rd quarter worth approximately $82,000. Focus Partners Wealth grew its stake in shares of ProShares Ultra Financials by 20.6% in the 3rd quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock worth $1,401,000 after purchasing an additional 2,413 shares during the last quarter. Creative Planning raised its holdings in shares of ProShares Ultra Financials by 16.0% in the 3rd quarter. Creative Planning now owns 4,296 shares of the company’s stock worth $426,000 after purchasing an additional 593 shares in the last quarter. Finally, MAI Capital Management lifted its stake in ProShares Ultra Financials by 19.9% during the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares during the last quarter.

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.