ProShares Ultra Financials (NYSEARCA:UYG) Sees Strong Trading Volume – Should You Buy?

Shares of ProShares Ultra Financials (NYSEARCA:UYG) saw unusually-strong trading volume on Monday . Approximately 25,475 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 20,594 shares.The stock last traded at $93.79 and had previously closed at $93.28.

ProShares Ultra Financials Price Performance

The stock’s fifty day moving average price is $91.25 and its 200 day moving average price is $85.06. The stock has a market capitalization of $899.83 million, a P/E ratio of 16.46 and a beta of 2.14.

Institutional Investors Weigh In On ProShares Ultra Financials

Several hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of ProShares Ultra Financials during the 4th quarter worth $51,000. Creative Planning bought a new position in ProShares Ultra Financials in the third quarter worth about $200,000. WealthTrust Asset Management LLC purchased a new stake in shares of ProShares Ultra Financials during the fourth quarter valued at about $205,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ProShares Ultra Financials in the 4th quarter valued at about $205,000. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of ProShares Ultra Financials in the 3rd quarter worth approximately $212,000.

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.