ProShares Ultra Financials (NYSEARCA:UYG) Shares Up 0.4% – Still a Buy?

Shares of ProShares Ultra Financials (NYSEARCA:UYG) rose 0.4% on Monday . The company traded as high as $86.03 and last traded at $86.00. Approximately 16,142 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 26,742 shares. The stock had previously closed at $85.65.

ProShares Ultra Financials Stock Performance

The firm has a 50-day moving average price of $88.28 and a two-hundred day moving average price of $77.03.

Hedge Funds Weigh In On ProShares Ultra Financials

A number of institutional investors have recently modified their holdings of UYG. Strategic Investment Solutions Inc. IL bought a new stake in shares of ProShares Ultra Financials in the 3rd quarter valued at about $92,000. Creative Planning bought a new position in ProShares Ultra Financials in the third quarter worth approximately $200,000. Parisi Gray Wealth Management purchased a new stake in ProShares Ultra Financials during the third quarter worth $207,000. Great Valley Advisor Group Inc. bought a new stake in ProShares Ultra Financials during the 3rd quarter valued at $212,000. Finally, James J. Burns & Company LLC purchased a new position in shares of ProShares Ultra Financials in the 3rd quarter valued at $218,000.

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.