ProShares UltraPro Dow30 (NYSEARCA:UDOW) Stock Price Up 1.8% – Here’s Why

ProShares UltraPro Dow30 (NYSEARCA:UDOW) traded up 1.8% during mid-day trading on Monday . The stock traded as high as $62.63 and last traded at $62.31. Approximately 2,430,284 shares were traded during trading, a decline of 42% from the average session volume of 4,190,170 shares. The stock had previously closed at $61.20.

ProShares UltraPro Dow30 Stock Up 1.8%

The stock has a market cap of $760.18 million, a P/E ratio of 20.47 and a beta of 2.79. The stock has a fifty day simple moving average of $58.76 and a 200-day simple moving average of $54.24.

Hedge Funds Weigh In On ProShares UltraPro Dow30

A number of institutional investors have recently added to or reduced their stakes in UDOW. Encompass More Asset Management lifted its holdings in ProShares UltraPro Dow30 by 191.1% during the 3rd quarter. Encompass More Asset Management now owns 32,235 shares of the company’s stock worth $3,451,000 after purchasing an additional 21,162 shares during the last quarter. Flow Traders U.S. LLC lifted its holdings in shares of ProShares UltraPro Dow30 by 139.0% during the second quarter. Flow Traders U.S. LLC now owns 64,238 shares of the company’s stock worth $6,065,000 after buying an additional 37,357 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of ProShares UltraPro Dow30 in the second quarter valued at about $368,000. Simplex Trading LLC grew its stake in shares of ProShares UltraPro Dow30 by 237.8% in the second quarter. Simplex Trading LLC now owns 9,991 shares of the company’s stock valued at $943,000 after acquiring an additional 7,033 shares in the last quarter. Finally, TrueMark Investments LLC bought a new position in ProShares UltraPro Dow30 during the second quarter worth about $1,375,000.

ProShares UltraPro Dow30 Company Profile

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.