ProShares Ultra Dow30 (NYSEARCA:DDM) Sets New 12-Month High – What’s Next?

ProShares Ultra Dow30 (NYSEARCA:DDM) hit a new 52-week high during trading on Monday . The company traded as high as $59.20 and last traded at $59.1520, with a volume of 283866 shares traded. The stock had previously closed at $57.53.

ProShares Ultra Dow30 Stock Performance

The firm’s 50 day moving average is $56.34 and its 200-day moving average is $53.14. The stock has a market capitalization of $537.26 million, a price-to-earnings ratio of 20.98 and a beta of 1.84.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of large investors have recently bought and sold shares of the business. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Ultra Dow30 in the second quarter valued at approximately $1,005,000. Cassaday & Co Wealth Management LLC grew its stake in ProShares Ultra Dow30 by 20.6% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 15,018 shares of the company’s stock valued at $1,472,000 after acquiring an additional 2,569 shares during the period. WealthShield Partners LLC acquired a new stake in ProShares Ultra Dow30 in the 2nd quarter valued at $69,000. GenWealth Group Inc. increased its holdings in ProShares Ultra Dow30 by 7.9% in the 2nd quarter. GenWealth Group Inc. now owns 76,264 shares of the company’s stock worth $7,476,000 after acquiring an additional 5,591 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in ProShares Ultra Dow30 in the 2nd quarter worth $48,478,000.

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.