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

ProShares Ultra Dow30 (NYSEARCA:DDM)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $60.60 and last traded at $59.80, with a volume of 1553788 shares. The stock had previously closed at $59.09.

ProShares Ultra Dow30 Price Performance

The stock’s 50 day simple moving average is $57.18 and its two-hundred day simple moving average is $53.94. The firm has a market cap of $559.13 million, a P/E ratio of 20.98 and a beta of 1.84.

Institutional Investors Weigh In On ProShares Ultra Dow30

Hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC grew its stake in shares of ProShares Ultra Dow30 by 7.4% in the third quarter. Capital Investment Advisory Services LLC now owns 3,738 shares of the company’s stock worth $401,000 after acquiring an additional 257 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in ProShares Ultra Dow30 during the 3rd quarter valued at about $44,000. Castleview Partners LLC grew its position in ProShares Ultra Dow30 by 20.2% during the 3rd quarter. Castleview Partners LLC now owns 3,226 shares of the company’s stock valued at $346,000 after purchasing an additional 542 shares during the last quarter. WealthShield Partners LLC bought a new stake in ProShares Ultra Dow30 during the 2nd quarter valued at about $69,000. Finally, GenWealth Group Inc. raised its holdings in ProShares Ultra Dow30 by 1.9% in the third quarter. GenWealth Group Inc. now owns 77,724 shares of the company’s stock worth $8,338,000 after buying an additional 1,460 shares during the last quarter.

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.