ProShares Ultra Gold (NYSEARCA:UGL) Sees Unusually-High Trading Volume – Time to Buy?

Shares of ProShares Ultra Gold (NYSEARCA:UGL) saw an uptick in trading volume on Thursday . 218,141 shares changed hands during trading, a decline of 11% from the previous session’s volume of 246,100 shares.The stock last traded at $142.43 and had previously closed at $144.66.

ProShares Ultra Gold Price Performance

The company has a 50-day simple moving average of $120.22 and a two-hundred day simple moving average of $106.01.

Institutional Investors Weigh In On ProShares Ultra Gold

A number of hedge funds have recently modified their holdings of UGL. China Universal Asset Management Co. Ltd. boosted its holdings in shares of ProShares Ultra Gold by 221.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 89,000 shares of the company’s stock worth $8,320,000 after acquiring an additional 61,300 shares during the period. IMC Chicago LLC purchased a new position in ProShares Ultra Gold during the 1st quarter valued at about $7,841,000. EverSource Wealth Advisors LLC bought a new stake in shares of ProShares Ultra Gold during the fourth quarter valued at about $1,592,000. Drive Wealth Management LLC purchased a new stake in shares of ProShares Ultra Gold in the fourth quarter worth about $320,000. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of ProShares Ultra Gold in the first quarter valued at approximately $277,000.

About ProShares Ultra Gold

ProShares Ultra Gold (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance. The Fund generally invests in financial instruments as a substitute for investing directly in a commodity or currency in order to gain exposure to the commodity index, commodity or currency.