ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Time to Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares saw strong trading volume on Tuesday . 18,557 shares were traded during trading, an increase of 9% from the previous session’s volume of 17,016 shares.The stock last traded at $93.0750 and had previously closed at $93.45.

ProShares Ultra Financials Trading Down 0.4%

The firm has a market capitalization of $826.28 million, a PE ratio of 17.45 and a beta of 2.02. The firm’s fifty day moving average price is $95.33 and its 200 day moving average price is $95.64.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UYG. CIBC Bancorp USA Inc. purchased a new stake in shares of ProShares Ultra Financials during the 3rd quarter worth about $709,000. Northwestern Mutual Wealth Management Co. bought a new position in ProShares Ultra Financials during the third quarter valued at approximately $82,000. Focus Partners Wealth raised its position in ProShares Ultra Financials by 20.6% during the third quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after acquiring an additional 2,413 shares in the last quarter. Creative Planning lifted its stake in ProShares Ultra Financials by 16.0% in the third quarter. Creative Planning now owns 4,296 shares of the company’s stock valued at $426,000 after acquiring an additional 593 shares during the last quarter. Finally, MAI Capital Management grew its position in ProShares Ultra Financials by 19.9% in the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock worth $105,000 after acquiring an additional 175 shares in the last quarter.

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.