Short Interest in ProShares Ultra Dow30 (NYSEARCA:DDM) Rises By 108.8%

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 82,767 shares, a growth of 108.8% from the May 31st total of 39,648 shares. Based on an average trading volume of 191,138 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.9% of the company’s shares are short sold.

ProShares Ultra Dow30 Stock Performance

Shares of NYSEARCA DDM opened at $65.48 on Thursday. The firm has a 50 day moving average price of $61.54 and a two-hundred day moving average price of $58.71. The stock has a market cap of $536.94 million, a P/E ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a 52-week low of $47.15 and a 52-week high of $66.60.

Institutional Trading of ProShares Ultra Dow30

A number of institutional investors and hedge funds have recently bought and sold shares of DDM. PNC Financial Services Group Inc. raised its position in ProShares Ultra Dow30 by 100.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of ProShares Ultra Dow30 in the 1st quarter valued at about $37,000. Qube Research & Technologies Ltd bought a new stake in shares of ProShares Ultra Dow30 in the 3rd quarter valued at about $44,000. WealthShield Partners LLC increased its stake in shares of ProShares Ultra Dow30 by 100.0% in the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock valued at $80,000 after buying an additional 702 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of ProShares Ultra Dow30 by 435.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock valued at $113,000 after buying an additional 1,621 shares during the period.

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.