ProShares UltraPro Dow30 (NYSEARCA:UDOW) Hits New 12-Month High – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW) reached a new 52-week high during trading on Tuesday . The stock traded as high as $73.17 and last traded at $73.17, with a volume of 1296717 shares changing hands. The stock had previously closed at $72.30.

ProShares UltraPro Dow30 Price Performance

The business’s 50-day simple moving average is $65.32 and its two-hundred day simple moving average is $60.72. The stock has a market capitalization of $866.11 million, a price-to-earnings ratio of 20.47 and a beta of 2.60.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its position in ProShares UltraPro Dow30 by 100.0% during the 4th quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period. Larson Financial Group LLC raised its position in ProShares UltraPro Dow30 by 100.8% in the fourth quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock valued at $43,000 after purchasing an additional 376 shares during the period. Federation des caisses Desjardins du Quebec raised its position in ProShares UltraPro Dow30 by 107.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock valued at $50,000 after purchasing an additional 445 shares during the period. Group One Trading LLC acquired a new position in shares of ProShares UltraPro Dow30 during the first quarter worth about $52,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of ProShares UltraPro Dow30 by 100.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,150 shares of the company’s stock worth $67,000 after purchasing an additional 575 shares in the last quarter.

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. 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.