ProShares Ultra Dow30 (NYSEARCA:DDM – Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 128,001 shares, a decrease of 54.6% from the August 31st total of 281,737 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 241,658 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Trading of ProShares Ultra Dow30
A number of institutional investors have recently made changes to their positions in DDM. IFP Advisors Inc lifted its position in ProShares Ultra Dow30 by 304.0% during the second quarter. IFP Advisors Inc now owns 404 shares of the company’s stock valued at $26,000 after purchasing an additional 304 shares during the period. Independent Financial Group LLC purchased a new stake in ProShares Ultra Dow30 during the 1st quarter valued at $297,000. IMC Chicago LLC purchased a new stake in ProShares Ultra Dow30 during the 1st quarter valued at $243,000. Schwallier Wealth Management LLC purchased a new stake in ProShares Ultra Dow30 during the 1st quarter valued at $407,000. Finally, Bogart Wealth LLC bought a new position in shares of ProShares Ultra Dow30 during the 1st quarter valued at $37,000.
ProShares Ultra Dow30 Stock Performance
Shares of NYSEARCA:DDM traded down $0.55 during midday trading on Wednesday, reaching $61.78. 49,495 shares of the company’s stock traded hands, compared to its average volume of 272,141. ProShares Ultra Dow30 has a one year low of $49.26 and a one year high of $71.25. The stock has a 50 day moving average of $66.26 and a 200 day moving average of $62.09. The company has a market cap of $497.36 million, a price-to-earnings ratio of 20.98 and a beta of 1.73.
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.
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