ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) saw an uptick in trading volume on Thursday . 15,923 shares changed hands during trading, a decline of 11% from the previous session’s volume of 17,839 shares.The stock last traded at $97.0790 and had previously closed at $95.76.

ProShares Ultra Financials Trading Down 1.3%

The company has a fifty day simple moving average of $96.51 and a two-hundred day simple moving average of $93.93. The company has a market cap of $856.17 million, a PE ratio of 17.45 and a beta of 2.02.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UYG. Cassaday & Co Wealth Management LLC boosted its stake in ProShares Ultra Financials by 25.2% in the second quarter. Cassaday & Co Wealth Management LLC now owns 34,801 shares of the company’s stock valued at $3,325,000 after acquiring an additional 7,000 shares in the last quarter. Dimension Capital Management LLC acquired a new position in shares of ProShares Ultra Financials in the 2nd quarter valued at $478,000. Chicago Partners Investment Group LLC increased its holdings in shares of ProShares Ultra Financials by 44.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,945 shares of the company’s stock valued at $767,000 after acquiring an additional 2,763 shares during the period. Lowery Thomas LLC acquired a new stake in ProShares Ultra Financials during the 1st quarter worth $218,000. Finally, Summit Financial LLC acquired a new stake in ProShares Ultra Financials during the 1st quarter worth $207,000.

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.