ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Here’s Why

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw an uptick in trading volume on Thursday . 50,524 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 22,961 shares.The stock last traded at $70.53 and had previously closed at $78.76.

ProShares Ultra Financials Trading Up 3.5 %

The firm has a 50-day moving average of $88.34 and a 200 day moving average of $87.54. The stock has a market capitalization of $735.16 million, a price-to-earnings ratio of 15.90 and a beta of 2.13.

ProShares Ultra Financials Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a $0.2736 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This is an increase from ProShares Ultra Financials’s previous dividend of $0.11.

Hedge Funds Weigh In On ProShares Ultra Financials

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of ProShares Ultra Financials by 250.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 47,158 shares of the company’s stock valued at $4,030,000 after buying an additional 33,688 shares during the period. Focus Partners Wealth grew its stake in shares of ProShares Ultra Financials by 29.9% in the 4th quarter. Focus Partners Wealth now owns 11,695 shares of the company’s stock worth $999,000 after purchasing an additional 2,695 shares during the last quarter. Waverly Advisors LLC bought a new stake in shares of ProShares Ultra Financials in the 4th quarter worth approximately $876,000. Jane Street Group LLC acquired a new stake in ProShares Ultra Financials during the fourth quarter valued at approximately $654,000. Finally, Freedom Investment Management Inc. bought a new stake in ProShares Ultra Financials during the fourth quarter worth approximately $612,000.

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.