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

ProShares Ultra Gold (NYSEARCA:UGL) saw unusually-high trading volume on Friday . Approximately 4,089,138 shares traded hands during mid-day trading, an increase of 100% from the previous session’s volume of 2,043,397 shares.The stock last traded at $55.0520 and had previously closed at $55.08.

ProShares Ultra Gold Stock Performance

The stock’s 50 day moving average price is $51.27 and its 200-day moving average price is $42.10.

Institutional Investors Weigh In On ProShares Ultra Gold

Hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC lifted its position in ProShares Ultra Gold by 300.0% during the second quarter. Rothschild Investment LLC now owns 3,000 shares of the company’s stock valued at $104,000 after acquiring an additional 2,250 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in ProShares Ultra Gold by 300.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,080 shares of the company’s stock worth $141,000 after purchasing an additional 3,060 shares during the last quarter. MGO One Seven LLC increased its position in shares of ProShares Ultra Gold by 152.8% during the second quarter. MGO One Seven LLC now owns 14,694 shares of the company’s stock worth $509,000 after purchasing an additional 8,881 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of ProShares Ultra Gold by 195.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 36,000 shares of the company’s stock valued at $1,248,000 after purchasing an additional 23,813 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its holdings in shares of ProShares Ultra Gold by 299.4% during the 2nd quarter. Mayfair Advisory Group LLC now owns 7,190 shares of the company’s stock valued at $262,000 after purchasing an additional 5,390 shares during the last quarter.

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.