ProShares Ultra Dow30 (NYSEARCA:DDM) Short Interest Update

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 32,316 shares, a drop of 66.4% from the July 15th total of 96,267 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 212,817 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On ProShares Ultra Dow30

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of ProShares Ultra Dow30 by 106.4% in the second quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock worth $304,000 after buying an additional 1,596 shares during the last quarter. Modern Wealth Management LLC purchased a new stake in ProShares Ultra Dow30 during the second quarter valued at approximately $410,000. Tower Research Capital LLC TRC increased its holdings in ProShares Ultra Dow30 by 32,044.8% during the second quarter. Tower Research Capital LLC TRC now owns 33,752 shares of the company’s stock valued at $3,309,000 after buying an additional 33,647 shares during the last quarter. GenWealth Group Inc. raised its position in ProShares Ultra Dow30 by 1.9% in the third quarter. GenWealth Group Inc. now owns 77,724 shares of the company’s stock worth $8,338,000 after acquiring an additional 1,460 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in ProShares Ultra Dow30 in the third quarter worth approximately $44,000.

ProShares Ultra Dow30 Price Performance

ProShares Ultra Dow30 stock traded down $0.28 during mid-day trading on Friday, reaching $68.59. 87,212 shares of the stock traded hands, compared to its average volume of 292,573. The stock has a market capitalization of $538.43 million, a PE ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a 12-month low of $49.26 and a 12-month high of $71.25. The business’s 50-day moving average is $65.62 and its 200-day moving average is $60.53.

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.