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

ProShares Ultra Financials (NYSEARCA:UYG) shares saw unusually-high trading volume on Monday . Approximately 15,053 shares traded hands during trading, a decline of 2% from the previous session’s volume of 15,436 shares.The stock last traded at $86.0690 and had previously closed at $84.34.

ProShares Ultra Financials Trading Up 1.4%

The firm’s 50-day moving average is $79.50 and its 200 day moving average is $84.16. The firm has a market capitalization of $750.69 million, a price-to-earnings ratio of 17.45 and a beta of 1.77.

Hedge Funds Weigh In On ProShares Ultra Financials

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new position in shares of ProShares Ultra Financials in the 1st quarter worth approximately $31,000. Main Street Group LTD acquired a new position in shares of ProShares Ultra Financials in the 1st quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ProShares Ultra Financials in the 3rd quarter worth approximately $82,000. Flagship Harbor Advisors LLC acquired a new position in shares of ProShares Ultra Financials in the 4th quarter worth approximately $96,000. Finally, MAI Capital Management lifted its position in shares of ProShares Ultra Financials by 19.9% in the 3rd quarter. MAI Capital Management now owns 1,055 shares of the company’s stock worth $105,000 after purchasing an additional 175 shares during the period.

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.