ProShares Ultra Dow30 (NYSEARCA:DDM) Sees Large Increase in Short Interest

ProShares Ultra Dow30 (NYSEARCA:DDM) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 96,267 shares, an increase of 151.6% from the June 30th total of 38,261 shares. Based on an average trading volume of 186,936 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.2% of the shares of the company are short sold.

ProShares Ultra Dow30 Stock Up 1.0%

Shares of NYSEARCA:DDM opened at $64.98 on Tuesday. The company has a market cap of $536.09 million, a P/E ratio of 20.98 and a beta of 1.73. ProShares Ultra Dow30 has a 52 week low of $47.15 and a 52 week high of $68.00. The company has a 50-day moving average price of $63.91 and a 200 day moving average price of $59.71.

Hedge Funds Weigh In On ProShares Ultra Dow30

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of ProShares Ultra Dow30 by 100.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 500 shares of the company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in ProShares Ultra Dow30 in the third quarter worth $44,000. WealthShield Partners LLC raised its position in ProShares Ultra Dow30 by 100.0% in the fourth quarter. WealthShield Partners LLC now owns 1,404 shares of the company’s stock worth $80,000 after acquiring an additional 702 shares in the last quarter. Bogart Wealth LLC purchased a new position in ProShares Ultra Dow30 in the first quarter worth $37,000. Finally, Koshinski Asset Management Inc. lifted its holdings in ProShares Ultra Dow30 by 3.2% in the first quarter. Koshinski Asset Management Inc. now owns 27,599 shares of the company’s stock valued at $1,437,000 after acquiring an additional 856 shares during the period.

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.