ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Trading Up 1.2% – Still a Buy?

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU)’s share price were up 1.2% during mid-day trading on Wednesday . The company traded as high as $40.85 and last traded at $40.19. Approximately 528 shares were traded during trading, a decline of 78% from the average daily volume of 2,354 shares. The stock had previously closed at $39.73.

ProShares Ultra Nasdaq Cloud Computing ETF Price Performance

The company’s fifty day simple moving average is $37.86 and its two-hundred day simple moving average is $32.43. The stock has a market cap of $2.01 million, a price-to-earnings ratio of 29.23 and a beta of 2.13.

ProShares Ultra Nasdaq Cloud Computing ETF Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were issued a $0.0771 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $0.31 annualized dividend and a dividend yield of 0.8%.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.