Short Interest in ProShares Ultra Dow30 (NYSEARCA:DDM) Declines By 43.1%

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 100,301 shares, a drop of 43.1% from the April 15th total of 176,424 shares. Based on an average trading volume of 166,327 shares, the short-interest ratio is currently 0.6 days. Approximately 1.1% of the company’s stock are short sold.

ProShares Ultra Dow30 Price Performance

Shares of NYSEARCA DDM traded up $0.35 during midday trading on Monday, hitting $59.45. 214,575 shares of the company’s stock were exchanged, compared to its average volume of 363,678. ProShares Ultra Dow30 has a twelve month low of $43.42 and a twelve month high of $62.35. The company has a market cap of $529.11 million, a PE ratio of 20.98 and a beta of 1.74. The firm’s fifty day simple moving average is $55.74 and its 200-day simple moving average is $57.02.

Institutional Investors Weigh In On ProShares Ultra Dow30

Several hedge funds and other institutional investors have recently made changes to their positions in DDM. Bank of America Corp DE raised its position in shares of ProShares Ultra Dow30 by 106.4% during the 2nd quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock worth $304,000 after acquiring an additional 1,596 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in shares of ProShares Ultra Dow30 during the 2nd quarter worth about $410,000. Tower Research Capital LLC TRC raised its position in shares of ProShares Ultra Dow30 by 32,044.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock worth $3,309,000 after acquiring an additional 33,647 shares in the last quarter. Global View Capital Management LLC raised its position in shares of ProShares Ultra Dow30 by 31.2% during the 3rd quarter. Global View Capital Management LLC now owns 152,553 shares of the company’s stock worth $16,366,000 after acquiring an additional 36,263 shares in the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in shares of ProShares Ultra Dow30 by 7.4% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 3,738 shares of the company’s stock worth $401,000 after acquiring an additional 257 shares in the last quarter.

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.