ProShares UltraPro Dow30 (NYSEARCA:UDOW) Short Interest Down 34.2% in March

ProShares UltraPro Dow30 (NYSEARCA:UDOW) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 826,936 shares, a drop of 34.2% from the February 26th total of 1,257,580 shares. Approximately 6.6% of the shares of the stock are sold short. Based on an average trading volume of 5,297,890 shares, the short-interest ratio is presently 0.2 days.

ProShares UltraPro Dow30 Stock Performance

ProShares UltraPro Dow30 stock traded down $2.59 during midday trading on Friday, reaching $46.55. 7,649,569 shares of the company were exchanged, compared to its average volume of 4,837,332. The firm’s 50-day simple moving average is $58.31 and its 200-day simple moving average is $56.91. ProShares UltraPro Dow30 has a 1 year low of $28.45 and a 1 year high of $66.21. The company has a market capitalization of $584.20 million, a price-to-earnings ratio of 20.47 and a beta of 2.79.

ProShares UltraPro Dow30 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a $0.1437 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, March 25th.

Hedge Funds Weigh In On ProShares UltraPro Dow30

Institutional investors and hedge funds have recently modified their holdings of the company. CPR Investments Inc. boosted its position in shares of ProShares UltraPro Dow30 by 1.2% in the third quarter. CPR Investments Inc. now owns 8,109 shares of the company’s stock worth $868,000 after acquiring an additional 96 shares during the last quarter. Millington Financial Advisors LLC grew its holdings in ProShares UltraPro Dow30 by 1.3% in the third quarter. Millington Financial Advisors LLC now owns 8,309 shares of the company’s stock valued at $867,000 after purchasing an additional 105 shares during the period. Significant Wealth Partners LLC increased its position in ProShares UltraPro Dow30 by 1.2% during the third quarter. Significant Wealth Partners LLC now owns 9,083 shares of the company’s stock worth $972,000 after purchasing an additional 109 shares during the last quarter. Founders Financial Securities LLC increased its position in ProShares UltraPro Dow30 by 1.9% during the third quarter. Founders Financial Securities LLC now owns 8,206 shares of the company’s stock worth $878,000 after purchasing an additional 150 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in ProShares UltraPro Dow30 by 100.0% during the fourth quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period.

ProShares UltraPro Dow30 Company Profile

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.