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

ProShares Ultra Financials (NYSEARCA:UYG) saw strong trading volume on Monday . 25,475 shares traded hands during 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 Trading Up 1.7 %

The company has a market capitalization of $913.42 million, a P/E ratio of 16.46 and a beta of 2.14. The company’s fifty day moving average is $91.05 and its 200 day moving average is $84.68.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UYG. Envestnet Asset Management Inc. grew its position in shares of ProShares Ultra Financials by 250.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 47,158 shares of the company’s stock valued at $4,030,000 after purchasing an additional 33,688 shares in the last quarter. Focus Partners Wealth grew its position in ProShares Ultra Financials by 29.9% during the fourth quarter. Focus Partners Wealth now owns 11,695 shares of the company’s stock worth $999,000 after buying an additional 2,695 shares in the last quarter. Waverly Advisors LLC purchased a new position in ProShares Ultra Financials during the fourth quarter worth about $876,000. Jane Street Group LLC bought a new position in ProShares Ultra Financials in the 4th quarter worth about $654,000. Finally, Freedom Investment Management Inc. purchased a new stake in ProShares Ultra Financials in the fourth quarter valued at approximately $612,000.

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.