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

ProShares Ultra Financials (NYSEARCA:UYG) shares saw an uptick in trading volume on Thursday . 50,524 shares were traded during trading, an increase of 120% from the previous session’s volume of 22,961 shares.The stock last traded at $70.53 and had previously closed at $78.76.

ProShares Ultra Financials Stock Performance

The company has a market cap of $709.52 million, a P/E ratio of 15.90 and a beta of 2.13. The firm’s 50-day simple moving average is $89.12 and its 200 day simple moving average is $87.53.

ProShares Ultra Financials Increases Dividend

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

Institutional Trading of ProShares Ultra Financials

A number of institutional investors and hedge funds have recently modified their holdings of UYG. Global Retirement Partners LLC acquired a new position in ProShares Ultra Financials during the fourth quarter valued at approximately $51,000. WealthTrust Asset Management LLC bought a new position in shares of ProShares Ultra Financials during the fourth quarter worth $205,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ProShares Ultra Financials in the 4th quarter valued at $205,000. Wharton Business Group LLC bought a new stake in shares of ProShares Ultra Financials in the 4th quarter valued at $215,000. Finally, Sanctuary Advisors LLC acquired a new stake in ProShares Ultra Financials during the 3rd quarter worth $232,000.

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.