ProShares Ultra Gold (NYSEARCA:UGL) Sees Strong Trading Volume – Still a Buy?

Shares of ProShares Ultra Gold (NYSEARCA:UGL) saw an uptick in trading volume on Thursday . 267,737 shares traded hands during mid-day 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 Stock Down 2.3 %

The business has a 50-day moving average of $123.48 and a 200-day moving average of $107.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new position in ProShares Ultra Gold during the third quarter worth about $67,000. Drive Wealth Management LLC acquired a new position in ProShares Ultra Gold in the 4th quarter worth about $320,000. China Universal Asset Management Co. Ltd. raised 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 last quarter. Rothschild Investment LLC bought a new stake in shares of ProShares Ultra Gold during the fourth quarter worth about $70,000. Finally, EverSource Wealth Advisors LLC bought a new position in ProShares Ultra Gold in the 4th quarter valued at approximately $1,592,000.

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.