ProShares Ultra Dow30 (NYSEARCA:DDM) Sets New 52-Week High – Here’s Why

Shares of ProShares Ultra Dow30 (NYSEARCA:DDM) hit a new 52-week high on Friday . The company traded as high as $60.60 and last traded at $59.80, with a volume of 1553788 shares trading hands. The stock had previously closed at $59.09.

ProShares Ultra Dow30 Price Performance

The firm has a market capitalization of $552.12 million, a P/E ratio of 20.98 and a beta of 1.84. The stock’s fifty day simple moving average is $57.26 and its 200 day simple moving average is $54.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new stake in ProShares Ultra Dow30 during the third quarter worth about $44,000. WealthShield Partners LLC purchased a new stake in shares of ProShares Ultra Dow30 in the 2nd quarter valued at approximately $69,000. Meridian Wealth Management LLC purchased a new stake in shares of ProShares Ultra Dow30 in the 2nd quarter valued at approximately $209,000. SOA Wealth Advisors LLC. increased its holdings in shares of ProShares Ultra Dow30 by 100.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 4,072 shares of the company’s stock worth $232,000 after buying an additional 2,036 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of ProShares Ultra Dow30 by 106.4% during the 2nd quarter. Bank of America Corp DE now owns 3,096 shares of the company’s stock worth $304,000 after buying an additional 1,596 shares during the last quarter.

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.