ProShares Ultra Financials (NYSEARCA:UYG) Hits New 52-Week High – Time to Buy?

ProShares Ultra Financials (NYSEARCA:UYG) shares hit a new 52-week high during trading on Monday . The stock traded as high as $103.10 and last traded at $103.4570, with a volume of 7462 shares. The stock had previously closed at $101.02.

ProShares Ultra Financials Stock Performance

The firm has a market cap of $842.62 million, a price-to-earnings ratio of 17.45 and a beta of 2.02. The firm’s 50 day moving average is $95.29 and its 200-day moving average is $95.53.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UYG. Steigerwald Gordon & Koch Inc. bought a new stake in ProShares Ultra Financials during the third quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its stake in shares of ProShares Ultra Financials by 26.7% in the second quarter. Farther Finance Advisors LLC now owns 760 shares of the company’s stock worth $73,000 after buying an additional 160 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Financials during the 3rd quarter worth $82,000. MAI Capital Management grew its stake in ProShares Ultra Financials by 19.9% in the 3rd quarter. MAI Capital Management now owns 1,055 shares of the company’s stock valued at $105,000 after buying an additional 175 shares during the last quarter. Finally, CWM LLC grew its stake in ProShares Ultra Financials by 53.3% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $132,000 after buying an additional 480 shares during the last quarter.

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.