ProShares Ultra Dow30 (NYSEARCA:DDM – Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 82,767 shares, an increase of 108.8% from the May 31st total of 39,648 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 191,138 shares, the days-to-cover ratio is currently 0.4 days.
ProShares Ultra Dow30 Stock Down 0.1%
NYSEARCA DDM traded down $0.05 during trading hours on Wednesday, hitting $65.48. 168,886 shares of the company were exchanged, compared to its average volume of 314,622. The firm has a market cap of $536.94 million, a price-to-earnings ratio of 20.98 and a beta of 1.73. The company has a 50 day moving average of $61.54 and a two-hundred day moving average of $58.71. ProShares Ultra Dow30 has a 52-week low of $47.15 and a 52-week high of $66.60.
Hedge Funds Weigh In On ProShares Ultra Dow30
Several hedge funds have recently made changes to their positions in DDM. Bank of America Corp DE increased its holdings in shares of ProShares Ultra Dow30 by 106.4% in the 2nd quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock valued at $304,000 after acquiring an additional 1,596 shares during the period. Modern Wealth Management LLC acquired a new stake in ProShares Ultra Dow30 during the 2nd quarter worth $410,000. Tower Research Capital LLC TRC boosted its stake in ProShares Ultra Dow30 by 32,044.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock worth $3,309,000 after purchasing an additional 33,647 shares during the period. GenWealth Group Inc. grew its position in ProShares Ultra Dow30 by 1.9% during the 3rd quarter. GenWealth Group Inc. now owns 77,724 shares of the company’s stock worth $8,338,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in ProShares Ultra Dow30 during the 3rd quarter worth $44,000.
ProShares Ultra Dow30 Company Profile
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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