ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Should You Buy?

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw an uptick in trading volume on Friday . Approximately 27,405 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 15,779 shares.The stock last traded at $93.1940 and had previously closed at $92.17.

ProShares Ultra Financials Stock Up 2.0%

The stock has a 50-day simple moving average of $85.95 and a two-hundred day simple moving average of $82.80. The firm has a market cap of $810.96 million, a PE ratio of 17.45 and a beta of 1.76.

Institutional Trading of ProShares Ultra Financials

Large investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC increased its stake in shares of ProShares Ultra Financials by 14.4% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 39,801 shares of the company’s stock worth $2,922,000 after acquiring an additional 5,000 shares in the last quarter. WealthCare Asset Management LLC bought a new stake in ProShares Ultra Financials during the fourth quarter worth about $2,740,000. Focus Partners Wealth grew its holdings in ProShares Ultra Financials by 71.3% in the fourth quarter. Focus Partners Wealth now owns 24,179 shares of the company’s stock worth $2,302,000 after purchasing an additional 10,063 shares during the period. Quantinno Capital Management LP grew its holdings in ProShares Ultra Financials by 307.1% in the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock worth $934,000 after purchasing an additional 9,596 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in shares of ProShares Ultra Financials by 10.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 9,811 shares of the company’s stock valued at $839,000 after purchasing an additional 945 shares in the last quarter.

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.