ProShares Ultra Financials (NYSEARCA:UYG) Sets New 1-Year High – Should You Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares hit a new 52-week high on Wednesday . The stock traded as high as $89.65 and last traded at $89.58, with a volume of 5788 shares trading hands. The stock had previously closed at $80.72.

ProShares Ultra Financials Stock Performance

The business has a 50 day moving average price of $77.99 and a 200 day moving average price of $70.62.

Institutional Trading of ProShares Ultra Financials

A number of hedge funds have recently bought and sold shares of UYG. Hamilton Wealth LLC purchased a new position in ProShares Ultra Financials during the 1st quarter worth $1,712,000. Arkadios Wealth Advisors acquired a new stake in ProShares Ultra Financials during the 2nd quarter worth about $346,000. Belvedere Trading LLC acquired a new position in ProShares Ultra Financials in the third quarter valued at approximately $407,000. Citizens Financial Group Inc. RI acquired a new stake in ProShares Ultra Financials during the first quarter valued at $247,000. Finally, Lazari Capital Management Inc. purchased a new position in shares of ProShares Ultra Financials in the 1st quarter valued at about $240,000.

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.