WealthCare Asset Management LLC Invests $2.74 Million in ProShares Ultra Financials $UYG

WealthCare Asset Management LLC purchased a new position in ProShares Ultra Financials (NYSEARCA:UYG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,089 shares of the company’s stock, valued at approximately $2,740,000. ProShares Ultra Financials makes up about 1.8% of WealthCare Asset Management LLC’s holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of ProShares Ultra Financials in the third quarter worth about $82,000. Flagship Harbor Advisors LLC purchased a new stake in ProShares Ultra Financials in the fourth quarter valued at approximately $96,000. MAI Capital Management raised its stake in ProShares Ultra Financials by 19.9% in the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after purchasing an additional 175 shares in the last quarter. Arax Advisory Partners purchased a new stake in ProShares Ultra Financials in the fourth quarter valued at approximately $192,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in ProShares Ultra Financials in the second quarter valued at approximately $215,000.

ProShares Ultra Financials Price Performance

Shares of UYG opened at $87.47 on Wednesday. The firm’s 50 day simple moving average is $80.00 and its 200 day simple moving average is $84.05. The company has a market capitalization of $767.99 million, a P/E ratio of 17.45 and a beta of 1.77. ProShares Ultra Financials has a 1-year low of $68.43 and a 1-year high of $104.32.

ProShares Ultra Financials 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.