ProShares Ultra Financials (NYSEARCA:UYG) Sees Strong Trading Volume – Time to Buy?

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-strong trading volume on Tuesday . 23,245 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 16,478 shares.The stock last traded at $99.0610 and had previously closed at $97.12.

ProShares Ultra Financials Stock Performance

The stock’s fifty day moving average price is $88.74 and its 200-day moving average price is $82.94. The company has a market capitalization of $853.93 million, a P/E ratio of 17.45 and a beta of 1.75.

Institutional Trading of ProShares Ultra Financials

Several institutional investors and hedge funds have recently bought and sold shares of the business. WealthCare Asset Management LLC acquired a new stake in ProShares Ultra Financials during the 4th quarter valued at $2,740,000. Independent Financial Group LLC acquired a new position in shares of ProShares Ultra Financials in the first quarter valued at $397,000. Quantinno Capital Management LP raised its position in shares of ProShares Ultra Financials by 307.1% in the first quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after purchasing an additional 9,596 shares during the period. Cassaday & Co Wealth Management LLC lifted its stake in shares of ProShares Ultra Financials by 14.4% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 39,801 shares of the company’s stock worth $2,922,000 after buying an additional 5,000 shares during the last quarter. Finally, Main Street Group LTD bought a new stake in shares of ProShares Ultra Financials during the 1st quarter worth about $44,000.

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.