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

ProShares Ultra Gold (NYSEARCA:UGL) reached a new 52-week high during trading on Tuesday . The company traded as high as $152.36 and last traded at $151.78, with a volume of 1030209 shares trading hands. The stock had previously closed at $143.14.

ProShares Ultra Gold Trading Up 6.0 %

The firm’s 50 day moving average price is $121.00 and its two-hundred day moving average price is $106.50.

Institutional Trading of ProShares Ultra Gold

Several hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in ProShares Ultra Gold by 221.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 89,000 shares of the company’s stock valued at $8,320,000 after purchasing an additional 61,300 shares during the period. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Gold in the 1st quarter valued at approximately $7,841,000. EverSource Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra Gold in the fourth quarter valued at approximately $1,592,000. Drive Wealth Management LLC purchased a new position in ProShares Ultra Gold in the fourth quarter worth $320,000. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in ProShares Ultra Gold in the first quarter valued at $277,000.

About ProShares Ultra Gold

ProShares Ultra Gold (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance. The Fund generally invests in financial instruments as a substitute for investing directly in a commodity or currency in order to gain exposure to the commodity index, commodity or currency.