ProShares Ultra Dow30 (NYSEARCA:DDM) Reaches New 52-Week High – Should You Buy?

Shares of ProShares Ultra Dow30 (NYSEARCA:DDM) hit a new 52-week high on Monday . The stock traded as high as $64.68 and last traded at $64.5290, with a volume of 68379 shares trading hands. The stock had previously closed at $63.01.

ProShares Ultra Dow30 Trading Up 1.2%

The firm has a market cap of $579.30 million, a price-to-earnings ratio of 20.98 and a beta of 1.74. The stock has a 50-day moving average of $59.71 and a two-hundred day moving average of $58.09.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of ProShares Ultra Dow30 by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Qube Research & Technologies Ltd purchased a new stake in ProShares Ultra Dow30 in the 3rd quarter worth about $44,000. WealthShield Partners LLC lifted its stake in ProShares Ultra Dow30 by 100.0% in the 4th quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock worth $80,000 after acquiring an additional 702 shares in the last quarter. Bogart Wealth LLC purchased a new stake in ProShares Ultra Dow30 in the 1st quarter worth about $37,000. Finally, Koshinski Asset Management Inc. lifted its stake in ProShares Ultra Dow30 by 3.2% in the 1st quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock worth $1,437,000 after acquiring an additional 856 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.