ProShares Ultra Dow30 (NYSEARCA:DDM – Get Free Report) saw a significant growth in short interest in October. As of October 30th, there was short interest totaling 88,191 shares, a growth of 1,187.5% from the October 15th total of 6,850 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,158 shares, the short-interest ratio is currently 0.5 days.
ProShares Ultra Dow30 Price Performance
Shares of NYSEARCA:DDM traded down $0.42 on Tuesday, reaching $63.84. 819,640 shares of the company traded hands, compared to its average volume of 275,789. ProShares Ultra Dow30 has a fifty-two week low of $49.26 and a fifty-two week high of $71.25. The company’s 50 day moving average is $63.90 and its 200-day moving average is $61.75. The stock has a market capitalization of $513.91 million, a PE ratio of 20.98 and a beta of 1.73.
Institutional Investors Weigh In On ProShares Ultra Dow30
Institutional investors and hedge funds have recently modified their holdings of the stock. CPR Investments Inc. acquired a new position in shares of ProShares Ultra Dow30 in the 3rd quarter valued at $528,000. Genesee Capital Advisors LLC purchased a new position in ProShares Ultra Dow30 in the 3rd quarter worth about $1,175,000. Schwallier Wealth Management LLC purchased a new position in ProShares Ultra Dow30 in the 1st quarter worth about $407,000. Bogart Wealth LLC purchased a new position in ProShares Ultra Dow30 in the 3rd quarter worth about $184,000. Finally, HighTower Advisors LLC acquired a new stake in ProShares Ultra Dow30 during the 3rd quarter worth about $309,000.
About ProShares Ultra Dow30
The ProShares Ultra Dow30 (DDM) is an exchange-traded fund that is based on the Dow Jones Industrial Average index. The fund provides 2x leveraged exposure to the price-weighted Dow Jones Industrial Average, which includes 30 of the largest and most stable US companies. DDM was launched on Jun 19, 2006 and is managed by ProShares.
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