ProShares UltraPro Dow30 (NYSEARCA:UDOW) Hits New 52-Week High – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW) shares reached a new 52-week high on Monday . The company traded as high as $68.85 and last traded at $68.5690, with a volume of 421155 shares changing hands. The stock had previously closed at $66.20.

ProShares UltraPro Dow30 Price Performance

The business’s fifty day simple moving average is $60.67 and its two-hundred day simple moving average is $59.21. The company has a market cap of $915.58 million, a PE ratio of 20.47 and a beta of 2.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in ProShares UltraPro Dow30 by 100.0% in the fourth quarter. NewEdge Advisors LLC now owns 470 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Larson Financial Group LLC increased its holdings in ProShares UltraPro Dow30 by 100.8% in the fourth quarter. Larson Financial Group LLC now owns 749 shares of the company’s stock valued at $43,000 after buying an additional 376 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in shares of ProShares UltraPro Dow30 by 107.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 858 shares of the company’s stock worth $50,000 after purchasing an additional 445 shares in the last quarter. Group One Trading LLC purchased a new stake in shares of ProShares UltraPro Dow30 during the first quarter worth about $52,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of ProShares UltraPro Dow30 by 100.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,150 shares of the company’s stock worth $67,000 after purchasing an additional 575 shares in the last quarter.

About ProShares UltraPro Dow30

ProShares UltraPro Dow30 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the daily performance of the Dow Jones Industrial Average Index. The Fund invests in equity securities and derivatives that have similar daily performance characteristics as three times (300%) the daily return of the Index. The Index includes 30 large-cap, blue-chip United States stocks, excluding utility and transportation companies. The Fund invests in common stock issued by public companies.