ProShares UltraPro Dow30 (NYSEARCA:UDOW) Sets New 1-Year High – Still a Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $64.12 and last traded at $64.0030, with a volume of 3304456 shares. The stock had previously closed at $60.17.

ProShares UltraPro Dow30 Trading Up 7.3%

The firm has a 50-day simple moving average of $60.02 and a 200-day simple moving average of $54.89. The firm has a market cap of $810.23 million, a P/E ratio of 20.47 and a beta of 2.79.

Hedge Funds Weigh In On ProShares UltraPro Dow30

A number of large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of ProShares UltraPro Dow30 by 100.8% in the 4th quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock valued at $43,000 after buying an additional 376 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in ProShares UltraPro Dow30 by 35.8% during the second quarter. SBI Securities Co. Ltd. now owns 1,563 shares of the company’s stock valued at $148,000 after acquiring an additional 412 shares during the last quarter. Comerica Bank boosted its stake in ProShares UltraPro Dow30 by 100.0% in the fourth quarter. Comerica Bank now owns 2,000 shares of the company’s stock valued at $116,000 after acquiring an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ProShares UltraPro Dow30 by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 2,275 shares of the company’s stock valued at $244,000 after acquiring an additional 718 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in ProShares UltraPro Dow30 in the third quarter worth $249,000.

About ProShares UltraPro Dow30

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.