ProShares Ultra Financials (NYSEARCA:UYG) Sees Unusually-High Trading Volume – Here’s Why

ProShares Ultra Financials (NYSEARCA:UYG) saw strong trading volume on Friday . 79,514 shares changed hands during trading, an increase of 256% from the previous session’s volume of 22,307 shares.The stock last traded at $71.39 and had previously closed at $81.41.

ProShares Ultra Financials Trading Down 14.7 %

The stock has a market capitalization of $664.13 million, a price-to-earnings ratio of 15.90 and a beta of 2.13. The business has a 50 day simple moving average of $91.96 and a 200-day simple moving average of $87.71.

ProShares Ultra Financials Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a $0.2736 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This is a boost from ProShares Ultra Financials’s previous dividend of $0.11.

Hedge Funds Weigh In On ProShares Ultra Financials

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in shares of ProShares Ultra Financials in the 4th quarter valued at about $51,000. Simplex Trading LLC purchased a new position in ProShares Ultra Financials in the fourth quarter valued at approximately $327,000. Envestnet Portfolio Solutions Inc. acquired a new position in ProShares Ultra Financials during the fourth quarter valued at approximately $205,000. Sanctuary Advisors LLC purchased a new stake in ProShares Ultra Financials during the third quarter worth approximately $232,000. Finally, Wharton Business Group LLC acquired a new stake in shares of ProShares Ultra Financials in the fourth quarter worth $215,000.

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.