ProShares UltraPro Dow30 (NYSEARCA:UDOW) Hits New 52-Week High – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW) shares hit a new 52-week high on Monday . The stock traded as high as $68.85 and last traded at $68.5690, with a volume of 421155 shares trading hands. The stock had previously closed at $66.20.

ProShares UltraPro Dow30 Stock Up 4.4%

The company has a market capitalization of $915.58 million, a price-to-earnings ratio of 20.47 and a beta of 2.61. The company’s 50 day simple moving average is $60.67 and its two-hundred day simple moving average is $59.21.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of 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 last quarter. Larson Financial Group LLC raised its holdings in shares of ProShares UltraPro Dow30 by 100.8% during the fourth quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock worth $43,000 after purchasing an additional 376 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of ProShares UltraPro Dow30 by 107.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock worth $50,000 after purchasing an additional 445 shares during the last quarter. Group One Trading LLC purchased a new position in shares of ProShares UltraPro Dow30 during the first quarter worth $52,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of ProShares UltraPro Dow30 by 100.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,150 shares of the company’s stock worth $67,000 after purchasing an additional 575 shares during the last quarter.

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.