Short Interest in ProShares Ultra Dow30 (NYSEARCA:DDM) Declines By 43.1%

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 100,301 shares, a decline of 43.1% from the April 15th total of 176,424 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 166,327 shares, the days-to-cover ratio is presently 0.6 days.

ProShares Ultra Dow30 Price Performance

DDM stock traded down $1.27 during midday trading on Friday, hitting $59.10. The company’s stock had a trading volume of 256,763 shares, compared to its average volume of 365,277. The company’s fifty day moving average price is $55.67 and its 200 day moving average price is $57.00. ProShares Ultra Dow30 has a twelve month low of $43.42 and a twelve month high of $62.35. The stock has a market capitalization of $525.99 million, a P/E ratio of 20.98 and a beta of 1.74.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of large investors have recently modified their holdings of DDM. Global View Capital Management LLC boosted its stake in shares of ProShares Ultra Dow30 by 271.1% during the 4th quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock worth $32,189,000 after buying an additional 413,552 shares during the last quarter. HRT Financial LP acquired a new position in shares of ProShares Ultra Dow30 during the 4th quarter worth about $8,335,000. Focus Partners Wealth acquired a new position in shares of ProShares Ultra Dow30 during the 4th quarter worth about $5,481,000. GenWealth Group Inc. boosted its stake in shares of ProShares Ultra Dow30 by 105.8% during the 4th quarter. GenWealth Group Inc. now owns 159,954 shares of the company’s stock worth $9,620,000 after buying an additional 82,230 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of ProShares Ultra Dow30 by 10,339.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 38,834 shares of the company’s stock worth $2,208,000 after buying an additional 38,462 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.