ProShares Ultra Financials (NYSEARCA:UYG) Sees Large Volume Increase – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG) shares saw an uptick in trading volume on Tuesday . 25,183 shares traded hands during trading, an increase of 57% from the previous session’s volume of 15,990 shares.The stock last traded at $94.6270 and had previously closed at $93.56.

ProShares Ultra Financials Stock Down 4.0%

The business has a 50 day simple moving average of $82.61 and a 200 day simple moving average of $82.94. The company has a market capitalization of $776.28 million, a PE ratio of 17.45 and a beta of 1.76.

Hedge Funds Weigh In On ProShares Ultra Financials

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC acquired a new stake in ProShares Ultra Financials in the 1st quarter worth approximately $31,000. Quantinno Capital Management LP increased its stake in ProShares Ultra Financials by 307.1% during the 1st quarter. Quantinno Capital Management LP now owns 12,721 shares of the company’s stock valued at $934,000 after purchasing an additional 9,596 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in ProShares Ultra Financials by 14.4% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 39,801 shares of the company’s stock valued at $2,922,000 after purchasing an additional 5,000 shares in the last quarter. Main Street Group LTD purchased a new position in shares of ProShares Ultra Financials in the first quarter worth $44,000. Finally, Independent Financial Group LLC purchased a new position in shares of ProShares Ultra Financials in the first quarter worth $397,000.

About ProShares Ultra Financials

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.