ProShares UltraPro Dow30 (NYSEARCA:UDOW) Shares Gap Up – Should You Buy?

Shares of ProShares UltraPro Dow30 (NYSEARCA:UDOW) gapped up before the market opened on Tuesday . The stock had previously closed at $63.69, but opened at $70.63. ProShares UltraPro Dow30 shares last traded at $70.49, with a volume of 680,902 shares changing hands.

ProShares UltraPro Dow30 Stock Performance

The firm has a market cap of $517.50 million, a price-to-earnings ratio of 20.78 and a beta of 2.76. The company’s fifty day moving average is $92.56 and its two-hundred day moving average is $97.86.

ProShares UltraPro Dow30 Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a $0.3172 dividend. This is an increase from ProShares UltraPro Dow30’s previous dividend of $0.31. The ex-dividend date of this dividend was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro Dow30

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management purchased a new position in shares of ProShares UltraPro Dow30 in the fourth quarter valued at $19,759,000. IMC Chicago LLC purchased a new position in ProShares UltraPro Dow30 in the 4th quarter valued at about $2,503,000. Simplex Trading LLC grew its stake in shares of ProShares UltraPro Dow30 by 343.8% during the fourth quarter. Simplex Trading LLC now owns 24,732 shares of the company’s stock valued at $2,338,000 after acquiring an additional 19,159 shares in the last quarter. GTS Securities LLC increased its position in shares of ProShares UltraPro Dow30 by 58.9% during the fourth quarter. GTS Securities LLC now owns 36,482 shares of the company’s stock worth $3,447,000 after acquiring an additional 13,517 shares during the last quarter. Finally, KG&L Capital Management LLC purchased a new position in ProShares UltraPro Dow30 in the fourth quarter valued at about $880,000.

ProShares UltraPro Dow30 Company Profile

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.