ProShares Ultra Gold (NYSEARCA:UGL) Sees Large Volume Increase – Still a Buy?

ProShares Ultra Gold (NYSEARCA:UGL) saw strong trading volume on Thursday . 267,737 shares traded hands during trading, an increase of 3% from the previous session’s volume of 259,934 shares.The stock last traded at $142.90 and had previously closed at $140.47.

ProShares Ultra Gold Price Performance

The business’s 50-day simple moving average is $123.48 and its 200-day simple moving average is $107.67.

Hedge Funds Weigh In On ProShares Ultra Gold

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

ProShares Ultra Gold Company Profile

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.