ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – Time to Buy?
by Teresa Graham · The Cerbat GemShares of ProShares Ultra Financials (NYSEARCA:UYG – Get Free Report) saw unusually-high trading volume on Monday . Approximately 27,572 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 17,390 shares.The stock last traded at $74.70 and had previously closed at $73.62.
ProShares Ultra Financials Price Performance
The business has a 50 day moving average price of $78.54 and a 200 day moving average price of $89.01. The stock has a market capitalization of $658.55 million, a PE ratio of 17.45 and a beta of 1.96.
ProShares Ultra Financials Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were paid a $0.2048 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.82 dividend on an annualized basis and a yield of 1.1%.
Institutional Trading of ProShares Ultra Financials
A number of institutional investors and hedge funds have recently bought and sold shares of the company. WealthCare Asset Management LLC purchased a new stake in shares of ProShares Ultra Financials during the fourth quarter valued at approximately $2,740,000. Focus Partners Wealth lifted its position in ProShares Ultra Financials by 71.3% in the 4th quarter. Focus Partners Wealth now owns 24,179 shares of the company’s stock valued at $2,302,000 after acquiring an additional 10,063 shares in the last quarter. Arax Advisory Partners bought a new position in ProShares Ultra Financials in the 4th quarter valued at approximately $192,000. Wealthspire Advisors LLC boosted its stake in ProShares Ultra Financials by 399,100.0% during the 4th quarter. Wealthspire Advisors LLC now owns 3,992 shares of the company’s stock valued at $366,000 after purchasing an additional 3,991 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in ProShares Ultra Financials by 33.6% during the 4th quarter. LPL Financial LLC now owns 4,221 shares of the company’s stock valued at $387,000 after purchasing an additional 1,061 shares during 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.