ProShares UltraPro Dow30 (NYSEARCA:UDOW) Stock Jumps 3.2% – Time to Buy?

ProShares UltraPro Dow30 (NYSEARCA:UDOW)’s share price shot up 3.2% during trading on Thursday. The company traded as high as $67.63 and last traded at $67.37. Approximately 2,105,361 shares were traded during mid-day trading, a decline of 31% from the average session volume of 3,067,756 shares. The stock had previously closed at $65.29.

ProShares UltraPro Dow30 Stock Performance

The company has a market cap of $939.81 million, a price-to-earnings ratio of 20.47 and a beta of 2.61. The stock’s fifty day moving average is $69.42 and its two-hundred day moving average is $66.12.

Institutional Investors Weigh In On ProShares UltraPro Dow30

Institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. lifted its position in shares of ProShares UltraPro Dow30 by 115.7% during the 1st quarter. Optiver Holding B.V. now owns 64,567 shares of the company’s stock worth $3,240,000 after buying an additional 34,635 shares in the last quarter. Strategic Investment Advisors MI bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at approximately $231,000. Group One Trading LLC bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at approximately $52,000. Fifth Third Bancorp bought a new position in shares of ProShares UltraPro Dow30 in the first quarter valued at approximately $100,000. Finally, Spectrum Financial Alliance Ltd LLC increased its position in shares of ProShares UltraPro Dow30 by 150.5% during the first quarter. Spectrum Financial Alliance Ltd LLC now owns 88,732 shares of the company’s stock valued at $4,453,000 after acquiring an additional 53,304 shares during 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.