ProShares Ultra Financials (NYSEARCA:UYG) Hits New 12-Month High – Here’s What Happened

Shares of ProShares Ultra Financials (NYSEARCA:UYG) reached a new 52-week high during trading on Monday . The stock traded as high as $99.92 and last traded at $99.40, with a volume of 6046 shares changing hands. The stock had previously closed at $98.26.

ProShares Ultra Financials Price Performance

The company has a market cap of $954.76 million, a price-to-earnings ratio of 16.46 and a beta of 2.14. The firm has a 50 day simple moving average of $91.94 and a 200-day simple moving average of $85.64.

Hedge Funds Weigh In On ProShares Ultra Financials

Several hedge funds have recently bought and sold shares of UYG. Envestnet Asset Management Inc. boosted its stake in shares of ProShares Ultra Financials by 250.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 47,158 shares of the company’s stock worth $4,030,000 after purchasing an additional 33,688 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of ProShares Ultra Financials by 29.9% during the 4th quarter. Focus Partners Wealth now owns 11,695 shares of the company’s stock worth $999,000 after purchasing an additional 2,695 shares during the period. Waverly Advisors LLC acquired a new stake in shares of ProShares Ultra Financials during the fourth quarter worth $876,000. Jane Street Group LLC acquired a new position in ProShares Ultra Financials in the fourth quarter valued at $654,000. Finally, Freedom Investment Management Inc. purchased a new position in ProShares Ultra Financials during the fourth quarter worth about $612,000.

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.