ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Significant Drop in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 37,327 shares, a decline of 86.2% from the January 15th total of 270,302 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 508,687 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 508,687 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.4% of the company’s stock are short sold.

Hedge Funds Weigh In On ProShares Ultra Dow30

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in ProShares Ultra Dow30 by 100.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock worth $28,000 after buying an additional 250 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of ProShares Ultra Dow30 in the 3rd quarter valued at $44,000. WealthShield Partners LLC bought a new position in shares of ProShares Ultra Dow30 in the 2nd quarter worth $69,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ProShares Ultra Dow30 by 435.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,993 shares of the company’s stock worth $113,000 after purchasing an additional 1,621 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of ProShares Ultra Dow30 during the 2nd quarter worth $209,000.

ProShares Ultra Dow30 Stock Performance

ProShares Ultra Dow30 stock traded up $0.11 during midday trading on Tuesday, hitting $61.52. 217,384 shares of the company’s stock were exchanged, compared to its average volume of 512,897. The company has a market cap of $541.38 million, a PE ratio of 20.98 and a beta of 1.84. The firm has a 50-day moving average of $58.59 and a two-hundred day moving average of $54.91. ProShares Ultra Dow30 has a 12 month low of $34.54 and a 12 month high of $62.35.

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.