ProShares Ultra Financials (NYSEARCA:UYG) Sees Strong Trading Volume – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-high trading volume on Wednesday . Approximately 10,785 shares changed hands during trading, a decline of 38% from the previous session’s volume of 17,389 shares.The stock last traded at $80.7040 and had previously closed at $80.33.

ProShares Ultra Financials Price Performance

The company has a market cap of $716.13 million, a price-to-earnings ratio of 17.45 and a beta of 1.89. The firm has a fifty day simple moving average of $77.78 and a 200 day simple moving average of $88.31.

ProShares Ultra Financials Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a $0.2048 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, March 25th.

Institutional Investors Weigh In On ProShares Ultra Financials

Hedge funds have recently modified their holdings of the business. WealthCare Asset Management LLC acquired a new position in shares of ProShares Ultra Financials in the fourth quarter valued at $2,740,000. Focus Partners Wealth raised its stake in ProShares Ultra Financials by 71.3% during the fourth quarter. Focus Partners Wealth now owns 24,179 shares of the company’s stock worth $2,302,000 after acquiring an additional 10,063 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in ProShares Ultra Financials during the third quarter worth $709,000. Wealthspire Advisors LLC grew its holdings in shares of ProShares Ultra Financials by 399,100.0% during the fourth quarter. Wealthspire Advisors LLC now owns 3,992 shares of the company’s stock worth $366,000 after purchasing an additional 3,991 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of ProShares Ultra Financials during the fourth quarter worth $351,000.

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.