ProShares Ultra Financials (NYSEARCA:UYG) Reaches New 12-Month High – Still a Buy?

ProShares Ultra Financials (NYSEARCA:UYG)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $78.20 and last traded at $77.98, with a volume of 8031 shares changing hands. The stock had previously closed at $76.53.

ProShares Ultra Financials Trading Up 1.7 %

The stock’s 50 day simple moving average is $73.25 and its two-hundred day simple moving average is $68.28.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hamilton Wealth LLC bought a new stake in ProShares Ultra Financials in the 1st quarter worth approximately $1,712,000. Arkadios Wealth Advisors bought a new stake in shares of ProShares Ultra Financials in the second quarter worth $346,000. Citizens Financial Group Inc. RI purchased a new stake in ProShares Ultra Financials during the first quarter valued at $247,000. Lazari Capital Management Inc. bought a new position in ProShares Ultra Financials in the first quarter valued at about $240,000. Finally, Parisi Gray Wealth Management bought a new position in ProShares Ultra Financials in the third quarter valued at about $207,000.

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.