ProShares Ultra Financials (NYSEARCA:UYG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of ProShares Ultra Financials (NYSEARCA:UYG) by 250.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,158 shares of the company’s stock after buying an additional 33,688 shares during the period. Envestnet Asset Management Inc.’s holdings in ProShares Ultra Financials were worth $4,030,000 at the end of the most recent reporting period.

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

ProShares Ultra Financials Stock Up 2.2 %

UYG opened at $79.91 on Thursday. The firm’s fifty day simple moving average is $85.22 and its two-hundred day simple moving average is $87.53. ProShares Ultra Financials has a 52-week low of $61.52 and a 52-week high of $99.92. The company has a market cap of $751.95 million, a price-to-earnings ratio of 14.75 and a beta of 1.94.

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.