ProShares Ultra Financials (NYSEARCA:UYG) Sets New 52-Week High – Still a Buy?

by · The Markets Daily

ProShares Ultra Financials (NYSEARCA:UYG – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $89.65 and last traded at $89.58, with a volume of 5788 shares traded. The stock had previously closed at $80.72.

ProShares Ultra Financials Stock Performance

The firm’s 50 day simple moving average is $77.99 and its 200 day simple moving average is $70.62.

Institutional Trading of ProShares Ultra Financials

Several large investors have recently added to or reduced their stakes in UYG. Hamilton Wealth LLC purchased a new stake in shares of ProShares Ultra Financials during the first quarter valued at approximately $1,712,000. Arkadios Wealth Advisors bought a new position in shares of ProShares Ultra Financials in the second quarter worth approximately $346,000. Belvedere Trading LLC purchased a new stake in ProShares Ultra Financials in the 3rd quarter worth $407,000. Citizens Financial Group Inc. RI bought a new stake in ProShares Ultra Financials during the 1st quarter valued at approximately $247,000. Finally, Lazari Capital Management Inc. purchased a new position in shares of ProShares Ultra Financials in the first quarter worth $240,000.

ProShares Ultra Financials Company Profile

(Get Free Report)

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.

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