ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Significant Drop in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 37,327 shares, a drop of 86.2% from the January 15th total of 270,302 shares. Based on an average daily volume of 508,687 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the company’s shares are short sold. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 508,687 shares, the short-interest ratio is presently 0.1 days.

ProShares Ultra Dow30 Trading Up 0.2%

Shares of DDM traded up $0.11 during trading hours on Tuesday, reaching $61.52. 217,384 shares of the company traded hands, compared to its average volume of 512,897. The stock’s fifty day moving average price is $58.59 and its 200 day moving average price is $54.91. The firm has a market cap of $541.38 million, a price-to-earnings ratio of 20.98 and a beta of 1.84. ProShares Ultra Dow30 has a 12-month low of $34.54 and a 12-month high of $62.35.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of hedge funds have recently added to or reduced their stakes in DDM. Global View Capital Management LLC raised its stake in shares of ProShares Ultra Dow30 by 271.1% during the fourth quarter. Global View Capital Management LLC now owns 566,105 shares of the company’s stock valued at $32,189,000 after acquiring an additional 413,552 shares in the last quarter. GenWealth Group Inc. increased its holdings in 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 purchasing an additional 82,230 shares during the period. Capital Investment Counsel Inc raised its position in ProShares Ultra Dow30 by 100.0% during the 4th quarter. Capital Investment Counsel Inc now owns 66,050 shares of the company’s stock valued at $3,756,000 after purchasing an additional 33,025 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ProShares Ultra Dow30 by 10,339.2% in 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 period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of ProShares Ultra Dow30 by 32,044.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock worth $3,309,000 after buying an additional 33,647 shares during the period.

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.