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

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw strong trading volume on Tuesday . 18,557 shares traded hands 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 Stock Performance

The stock has a 50 day moving average price of $95.33 and a 200 day moving average price of $95.64. The company has a market cap of $826.28 million, a P/E ratio of 17.45 and a beta of 2.02.

Institutional Investors Weigh In On ProShares Ultra Financials

Several hedge funds and other institutional investors have recently bought and sold shares of UYG. Cassaday & Co Wealth Management LLC grew its stake in shares of ProShares Ultra Financials by 25.2% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 34,801 shares of the company’s stock worth $3,325,000 after purchasing an additional 7,000 shares during the last quarter. Focus Partners Wealth boosted its holdings in ProShares Ultra Financials by 20.6% during the third 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 in the last quarter. CIBC Bancorp USA Inc. acquired a new position in ProShares Ultra Financials in the third quarter worth approximately $709,000. Bank of America Corp DE increased its holdings in shares of ProShares Ultra Financials by 2.1% in the second quarter. Bank of America Corp DE now owns 6,146 shares of the company’s stock valued at $587,000 after buying an additional 126 shares in the last quarter. Finally, Dimension Capital Management LLC bought a new position in shares of ProShares Ultra Financials in the second quarter valued at $478,000.

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.