ProShares Ultra Dow30 (NYSEARCA:DDM) Shares Cross Below 200-Day Moving Average – What’s Next?

ProShares Ultra Dow30 (NYSEARCA:DDM)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $61.70 and traded as low as $60.74. ProShares Ultra Dow30 shares last traded at $61.57, with a volume of 436,274 shares traded.

ProShares Ultra Dow30 Stock Down 0.9%

The company’s fifty day moving average price is $64.04 and its two-hundred day moving average price is $61.70. The firm has a market cap of $495.64 million, a PE ratio of 20.98 and a beta of 1.73.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of large investors have recently made changes to their positions in the stock. Genesee Capital Advisors LLC acquired a new position in ProShares Ultra Dow30 during the third quarter worth $1,175,000. CPR Investments Inc. acquired a new stake in shares of ProShares Ultra Dow30 in the third quarter valued at approximately $528,000. Schwallier Wealth Management LLC acquired a new stake in ProShares Ultra Dow30 during the 1st quarter valued at $407,000. Independent Financial Group LLC purchased a new stake in ProShares Ultra Dow30 during the 1st quarter worth about $297,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of ProShares Ultra Dow30 during the third quarter worth about $271,000.

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.