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

ProShares Ultra Dow30 (NYSEARCA:DDM) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 6,850 shares, a decline of 85.1% from the September 30th total of 45,857 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 167,926 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Genesee Capital Advisors LLC purchased a new position in ProShares Ultra Dow30 in the third quarter valued at about $1,175,000. CPR Investments Inc. acquired a new position in ProShares Ultra Dow30 in the 3rd quarter valued at about $528,000. Schwallier Wealth Management LLC acquired a new stake in shares of ProShares Ultra Dow30 in the first quarter valued at $407,000. Independent Financial Group LLC purchased a new position in ProShares Ultra Dow30 in the first quarter worth approximately $297,000. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Dow30 in the first quarter valued at $243,000.

ProShares Ultra Dow30 Stock Performance

Shares of NYSEARCA:DDM opened at $64.56 on Tuesday. ProShares Ultra Dow30 has a 52-week low of $49.26 and a 52-week high of $71.25. The firm has a fifty day moving average of $64.84 and a 200 day moving average of $61.49. The firm has a market capitalization of $526.16 million, a PE ratio of 20.98 and a beta of 1.74.

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.