ProShares Ultra Financials (NYSEARCA:UYG) Trading Down 9.1% – What’s Next?
by Scott Moore · The Cerbat GemProShares Ultra Financials (NYSEARCA:UYG – Get Free Report)’s share price fell 9.1% on Friday . The stock traded as low as $94.85 and last traded at $94.5940. 735 shares were traded during trading, a decline of 96% from the average session volume of 17,079 shares. The stock had previously closed at $104.01.
ProShares Ultra Financials Stock Performance
The stock has a market cap of $838.88 million, a P/E ratio of 17.45 and a beta of 2.02. The firm has a 50-day moving average price of $95.33 and a 200-day moving average price of $95.52.
Hedge Funds Weigh In On ProShares Ultra Financials
Several institutional investors and hedge funds have recently modified their holdings of UYG. CIBC Bancorp USA Inc. purchased a new stake in shares of ProShares Ultra Financials during the third quarter valued at approximately $709,000. Northwestern Mutual Wealth Management Co. bought a new position in ProShares Ultra Financials in the 3rd quarter valued at approximately $82,000. Focus Partners Wealth boosted its stake in ProShares Ultra Financials by 20.6% during the 3rd quarter. Focus Partners Wealth now owns 14,116 shares of the company’s stock valued at $1,401,000 after purchasing an additional 2,413 shares during the last quarter. Creative Planning increased its holdings in shares of ProShares Ultra Financials by 16.0% in the 3rd quarter. Creative Planning now owns 4,296 shares of the company’s stock worth $426,000 after purchasing an additional 593 shares in the last quarter. Finally, MAI Capital Management raised its stake in shares of ProShares Ultra Financials by 19.9% in the third quarter. MAI Capital Management now owns 1,055 shares of the company’s stock worth $105,000 after purchasing an additional 175 shares during the last quarter.
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.