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

ProShares Ultra Financials (NYSEARCA:UYG) shares saw an uptick in trading volume on Friday . 11,922 shares were traded during mid-day trading, a decline of 56% from the previous session’s volume of 26,998 shares.The stock last traded at $80.02 and had previously closed at $77.31.

ProShares Ultra Financials Stock Up 3.9 %

The firm’s fifty day simple moving average is $73.79 and its 200 day simple moving average is $68.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hamilton Wealth LLC acquired a new stake in shares of ProShares Ultra Financials during the first quarter worth approximately $1,712,000. Arkadios Wealth Advisors acquired a new stake in shares of ProShares Ultra Financials during the second quarter worth approximately $346,000. Citizens Financial Group Inc. RI acquired a new stake in shares of ProShares Ultra Financials during the first quarter worth approximately $247,000. Lazari Capital Management Inc. acquired a new stake in shares of ProShares Ultra Financials during the first quarter worth approximately $240,000. Finally, Parisi Gray Wealth Management acquired a new stake in shares of ProShares Ultra Financials during the third quarter worth approximately $207,000.

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.