ProShares UltraPro Dow30 (NYSEARCA:UDOW – Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $64.33 and traded as low as $63.81. ProShares UltraPro Dow30 shares last traded at $63.91, with a volume of 4,457,600 shares.
ProShares UltraPro Dow30 Stock Performance
The firm has a market capitalization of $821.24 million, a price-to-earnings ratio of 20.47 and a beta of 2.59. The business has a fifty day moving average of $67.46 and a two-hundred day moving average of $64.33.
Hedge Funds Weigh In On ProShares UltraPro Dow30
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UDOW. Optiver Holding B.V. increased its holdings in shares of ProShares UltraPro Dow30 by 115.7% in the first quarter. Optiver Holding B.V. now owns 64,567 shares of the company’s stock valued at $3,240,000 after purchasing an additional 34,635 shares during the last quarter. Strategic Investment Advisors MI bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at about $231,000. Group One Trading LLC bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at about $52,000. Fifth Third Bancorp bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at about $100,000. Finally, Spectrum Financial Alliance Ltd LLC raised its position in shares of ProShares UltraPro Dow30 by 150.5% in the first quarter. Spectrum Financial Alliance Ltd LLC now owns 88,732 shares of the company’s stock valued at $4,453,000 after purchasing an additional 53,304 shares during the period.
About ProShares UltraPro Dow30
ProShares UltraPro Dow30 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the daily performance of the Dow Jones Industrial Average Index. The Fund invests in equity securities and derivatives that have similar daily performance characteristics as three times (300%) the daily return of the Index. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. The Fund invests in common stock issued by public companies.
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