ProShares Ultra Dow30 (NYSEARCA:DDM) Stock Break Below Two Hundred Day Moving Average – Here’s What Happened

ProShares Ultra Dow30 (NYSEARCA:DDM) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $61.70 and traded as low as $60.74. ProShares Ultra Dow30 shares last traded at $61.57, with a volume of 436,274 shares trading hands.

ProShares Ultra Dow30 Trading Down 0.9%

The stock has a 50 day moving average of $64.04 and a 200-day moving average of $61.70. The stock has a market capitalization of $495.64 million, a P/E ratio of 20.98 and a beta of 1.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DDM. CPR Investments Inc. purchased a new position in ProShares Ultra Dow30 during the third quarter valued at approximately $528,000. Genesee Capital Advisors LLC acquired a new position in ProShares Ultra Dow30 during the 3rd quarter worth about $1,175,000. Schwallier Wealth Management LLC purchased a new stake in ProShares Ultra Dow30 during the 1st quarter valued at approximately $407,000. Commonwealth Equity Services LLC purchased a new position in shares of ProShares Ultra Dow30 during the 3rd quarter worth $271,000. Finally, Simplex Trading LLC bought a new position in ProShares Ultra Dow30 during the 3rd quarter valued at $45,000.

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.